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

To: russwinter who wrote (69865)	5/21/2001 8:52:24 AM
From: B.REVERE	Respond to of 116764

From the HM board on Friday's action:Le Metropole Members, Midas du Metropole has served a SPECIAL MIDAS REPORT at The James Joyce Table entitled, "Greenspan / Bullion Dealer Gold Panic." "Hi Bill, My name is J. C. and I have been a member of the cafe for what is now going on my third year and I am also a Comex member and have been so for 20 years. I would like to share my observation of Friday's move with you. Since Thursday Chase was trying to defend the 275 number. Every time we approached it they sold 200 August contracts every dime up. The June/August switch was offered at a buck so Chase started selling August at 27520-27580 and Goldman was a seller in June from 27450 to the high of 27490. Whenever another trader bid 90 Goldmans broker screamed SOLD--COME ON which I am sure you know means that Goldman had the world to sell. I turned to another trader and said Chase and Goldman will not let this market trade above 275 and it did not settling at 274.30." "Now on to Friday......The market opened a dollar lower and quickly traded down to 27260, on small volume, the Euro was on it's lows and the dollar was on it's high's (as you know that is not a good sign for gold) and it looked like it was going to be a down day. Then Moore capital started to do some buying in June and Refco was a buyer in August and the market was drifting higher, and because of the Euro and the $ most locals in the ring were short. Goldman and Chase again tried to defend the 275 number but on this day it would not work......." <A HREF="http://www.LeMetropoleCafe.com/entrance.cfm"> Le Metropole Cafe</A>