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

To: IngotWeTrust who wrote (80801)	1/16/2002 6:34:56 AM
From: long-gone	Respond to of 116756

Wednesday January 16, 6:19 am Eastern Time Gold firmer on short-covering ahead of BoE sale LONDON, Jan 16 (Reuters) - Gold prices rose in early European trading on Wednesday, amid short-covering ahead of the Bank of England auction later today, traders said. Spot gold swiftly sprang over $4.00 as the market focused on the auction, when another 20-tonne tranche will be offered. The sale is the penultimate in a series begun in 1999 under the BoE's programme to cut UK gold reserves to 300 tonnes from 715. ADVERTISEMENT -------------------------------------------------------------------------------- Traders said market speculation of at least one large bid at the auction was helping to boost prices. The results of the sale will be available at around 1215 GMT. ``Someone has the bit between it's teeth. There was a big buyer in Asia overnight and short-covering today. There are rumours this morning that one person is going to take out the whole auction. This is options-related buying,'' one trader said. ``There are people who need gold up because there are some strikes around these current levels and people want to push it through them and get the market to cover,'' he added. ``There are people who need gold up because there are some strikes around these current levels and people want to push it through them and get the market to cover,'' he added. At 1059 GMT, spot gold was at $287.90/288.40, up from $284.45/284.95, but off the earlier highs of $289.00 an ounce. Silver found a new lease of life, enjoying support as borrowing returned to the forward market and gold prices challenged higher levels. Prices touched highs of $4.66. ``The borrowing stopped and silver dipped lower, but now it has started up again, but not to such an extent and whoever is doing it is doing it in smaller amounts,'' one trader said. Nearby lease rates, which eased on Monday to around 15 percent, were quoted slightly higher at 20 percent on Wednesday morning. Short-term rates are some way below the 30 percent reached last week. ``While this situation remains, silver is going to go higher. I still think $5.00 is realistic,'' one said. biz.yahoo.com (cont)

To: IngotWeTrust who wrote (80801)	1/16/2002 7:32:25 AM
From: lbs1989	Read Replies (1) \| Respond to of 116756

Dear G.T., I have done a lot of reading on this subject from a lot of different sources. I am not trying to personally change anyones mind. I have always said research for yourself and draw your own conclusion. Being a patriot I am sure you defend my first amendment right to express my opinion even if you do not agree with it. Since we agree to disagree on this topic why don't we just leave it at that and let others make up their minds after their own "Due Diligence". Best Regards,