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

To: jrinvestor who wrote (69963)	5/22/2001 12:22:26 PM
From: AC Flyer	Read Replies (2) \| Respond to of 116931

>>Did you miss the dog and pony show yesterday?JR<< I guess I did. Here's my 2 cents worth. While the fundamentals for POG look good, any rally will likely be met by two kinds of sellers: 1. the bullion banks that are net short for whom a sustained increase in price will be disastrous (e.g. yesterday's price action); and 2. gold producers selling forward. While I would like to think that POG will rise quickly, there is a huge amount of overhead resistance to be overcome. One more thing. It occurs to me that while owning gold (metal/stocks) is seen by some as insurance against future economic turmoil, a sustained price rise in POG could actually trigger significant economic problems as those financial institutions that are short gold go bust. There is a huge vested interest in keeping POG where it is. That says to me that POG could stay under $300 far longer than anyone here thinks (possibly years, not months), but that when the dam eventually bursts the price move will be quick and huge and could trigger a financial markets calamity, imho. Maybe we should be careful what we wish for :)