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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Zardoz who wrote (65321)	3/10/2001 11:55:09 AM
From: Machaon	Respond to of 116764

<< Did not a previous rise in lease rates result in a $329 run after the EU announcements? >> Times have changed. Back then, interest rates were going up, making leasing gold more profitable. Paper wealth was still heading to new heights. Not a profitable environment for gold. Now, the Nasdaq has plunged from 5000 to 2000 and still looks lower, and lower interest rates are making leasing gold less profitable, adding to the risk of shorting gold. Gold Fields announced on Feb 16th that they were no longer hedging gold. It was an announcement totally out of the blue, and seemed bullish towards gold, IMHO. The last time that the lease rates soared was in response to the announcement of a cap on leasing and selling by CBs. At present, we have to ask why the lease rates are soaring. Could it be because fiat based value and investments are plunging? All of a sudden it makes less sense to sell gold to invest the proceeds in either U.S. government bonds or the stock market. The XAU seems to have put in a bottom November 2000 and is trending up. It will be a choppy ride, but it sure looks bullish to me. The key, IMHO, will be the future direction of lease rates.

To: Zardoz who wrote (65321)	3/10/2001 1:32:34 PM
From: Claude Cormier	Read Replies (2) \| Respond to of 116764

<The Key to this is not whether lease rates are rising, but more over, why the Price of gold is not rising faster. Did not a previous rise in lease rates result in a $329 run after the EU announcements? > Hutch, in 1999, the rise in lease rates started in June and gained momentum progressively into September when gold prices explode. Today's rise ln rates is sudden and abrupt. Give POG prices some time to catch up. Maybe an unexpected news will cause a similar price explosion in the coming weeks. Claude

To: Zardoz who wrote (65321)	3/10/2001 5:04:01 PM
From: lorne	Respond to of 116764

Thanks for reply Hutch. Lorne

To: Zardoz who wrote (65321)	3/11/2001 12:35:35 PM
From: The Barracuda™	Respond to of 116764

I could be that whom ever is borrowing the gold is doing so to get short gold. They may be hoping for a big break in gold prices at the boe auction.

To: Zardoz who wrote (65321)	3/14/2001 7:15:23 AM
From: long-gone	Read Replies (2) \| Respond to of 116764

Australia bans all European meat and dairy Source: AAP\|Published: Wednesday March 14, 2:21 PM Australia today banned all meat and dairy products and livestock from the European Union following news that foot-and-mouth disease had reached France. The move by the Australian Quarantine and Inspection Service (AQIS) extends a ban imposed yesterday on all livestock, including horses, from Britain and Ireland. AQIS imposed the ban after the confirmation of a foot-and-mouth outbreak in north west France overnight, and fears the disease may have spread to Italy. Agriculture Minister Warren Truss said Australia had to take all available precautions to prevent an outbreak of the disease. Mr Truss said the disease outbreak was spreading so quickly Australia had to increase its preventative measures to stop it entering the country. "We enjoy a disease-free status in relation to foot-and-mouth disease in Australia, it is very important for our clean, green image, and we're determined to protect it," he told ABC radio. The ban effectively means Australian meat and dairy imports will be restricted to products from the US and New Zealand. Australia had banned meat products from the EU, the United Kingdom and Ireland in January over fears of mad cow disease. Today's ban now extends to livestock including horses which will have an impact on the Australian thoroughbred breeding industry. An outbreak of foot-and-mouth has been confirmed in Argentina, one of Australia's biggest beef competitors. It has been forced to suspend meat exports to the US, Canada and Chile. theage.com.au