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

To: lorne who wrote (65633)3/14/2001 9:32:43 AM
From: Machaon  Read Replies (1) | Respond to of 116767
 
<< The central bank said a total of 1.8 million ounces of gold was bid for, with 804,800 ounces allotted to bidders at the lowest accepted price. >>

The auction was only oversubscribed at 2.25, but the 1 month lease rates are up over 34% to 7.2713%. Most longer term lease rates are lower today, but, with the one month jumping, this might indicate a short term shortage in the metal, IMHO.

If there is a shortage, why would the BOE auction only be oversubscribed at 2.25? Unless, of course, there was some kind of action by the BOE to limit subscribers!? Is that possible?



To: lorne who wrote (65633)3/14/2001 3:05:09 PM
From: Professor Dotcomm  Respond to of 116767
 
The BoE sale was a bust. Apparently it was the third worst out of the eleven tender sales to date.

Since gold demand is tailing off, perhaps this is why the BoE is cutting the size of the offerings.

It doesn't take much manipulation if people just don't want the stuff.


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