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

To: Ken Benes who wrote (82338)	2/19/2002 6:06:52 PM
From: Square_Dealings	Read Replies (2) \| Respond to of 116834

Let's see what happens when the "rumors" about Fidelity, Putnam, and gang canceling the insurance on the money market funds hits. Wonder why they can't afford the insurance premiums anymore :) Think any of those funny money funds had Enron commercial paper in em? Just a hunch. M.

To: Ken Benes who wrote (82338)	2/19/2002 7:28:30 PM
From: Alex	Respond to of 116834

TheBullionDesk.com's Norman Comments on Welteke Gold Statement By Stuart Wallace London, Feb. 19 (Bloomberg) -- Following are comments by Ross Norman, an analyst at TheBullionDesk.com, on Bundesbank President Ernst Welteke's statement that Germany, the world's second-largest gold holder, wants to sell some of its reserves to buy other assets. Welteke's comment came in an interview with Bloomberg television, to be aired tomorrow. ``Even if there were sales, this doesn't step outside the Washington accord (limiting central banks' gold sales). The impact wouldn't occur for two or three years. ``All that it's doing is shaking the nerve of the weak longs. With Comex (division of the New York Mercantile Exchange) particularly long at the moment, you might see some short-term selling on the back of it. ``Fundamentally I still believe the market should be above $300 (an ounce). I suspect that this might be a temporary setback when some of the weaker longs are shaken out. ``I suspect (the Bundesbank) will do it in an orderly fashion, and the unwinding of hedging that's going on and the supply-side discipline that'll come from the contraction of the producer base will more than counter what the central banks will be prepared to off-load. ``There's nothing new in the expectation that the Washington accord will be extended anyway. In a sense, I suppose the Germans are saying they want to be in the queue when the next round comes.'' quote.bloomberg.com

To: Ken Benes who wrote (82338)	2/19/2002 11:45:03 PM
From: long-gone	Respond to of 116834

<<A rally that had some legs, yet, so vulnerable to rumor.>> While I agree with your disappointment that gold price was hit so badly on shorting & rumor, can you accuratly use the term "vulnerable" with a close above US$290? This is a very hard "in the money" number for a great many mining firms. Even +$280 is still winning.