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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: isopatch who wrote (3693)	11/6/2001 8:34:52 PM
From: gold$10k	Read Replies (1) \| Respond to of 36161

Isopatch and Rolatzi, If my memory is correct (get out the ginko biloba), then... Iso's statement, "BOE auctions have shown less & less impact over the years. Early auctions had the most negative effect on the gold price." is correct, but I don't believe that it had to do with absorbing supply so much as having been a fearful reaction to an official gold cartel sponsored event. Rolatzi's statement "The price usually declines after their sale." is still generally true even though the reactions are now milder. Iso's statement "Auctions during the past 12 months have been strongly bid." is also true, but this has not been a guarantee that the POG would rise or even remain flat in the following week or two. Reactions to the BOE auction over the past 30 months have been somewhat like the stock market's reaction to the FED's interest rate cuts since the beginning of this year. Today showed that you couldn't be sure that the market would immediately drop each time rates were cut (ouch!). IMHO, as the end of the series of BOE auctions approaches, it becomes less likely that the POG will act negatively after each one. vt