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Gold/Mining/Energy : Gold and Silver Mining Stocks -- Ignore unavailable to you. Want to Upgrade?

To: d:oug who wrote (2120)	9/16/2001 11:07:50 AM
From: russwinter	Respond to of 4051

<meeting with counterparts across Latin American in an effort to limit the sale of national gold reserves in an effort to stabilize prices.> Latin American countries had official holdings of 499 tons in Aug. This might be significant if it applies (likely if they are doing a WAG style agreement) to the leasing market. Venz. is the big player(with 334 tons) and Brazil (21 tons) have been active in swaps and other gold "mobilization" schemes. It's generally thought that other LA countries are fond of lending gold. This is enough gold that it could signal less availability for loans (sales haven't been much of a factor) and thus higher lease rates. This is bad timing for the bears and shorts. It's really hard for me to come up with bearish scenarios right now. It appears as if CB's woke up this week and are saying, "maybe we should have some unencumbered gold on hand after all." A little late if you ask me, as the horse is already out of the barn. A spike seems imminent.