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Gold/Mining/Energy : Barrick Gold (ABX) -- Ignore unavailable to you. Want to Upgrade?

To: gemsearcher who wrote (3081)	5/29/2002 10:12:08 PM
From: russet	Read Replies (2) \| Respond to of 3558

You reading all this crap,...can you believe a thread where the most frequent posters are anti the stock, what a treat? I must admit, I enjoy most of the crap spewed out here,...one of the best threads I've ever contributed too because it is bad to be pro the stock,...wish I had the time to really let the fur fly (ggggggggggggg) In ABX at CDN$34.25 today, just to put my money where my mouth is. Goldman is a small counterparty, and perhaps has been snubbed by Barrick now that Barrick has their own bullion bank, so they counter by lashing back. In reality they downgraded the whole gold sector, because they think (or want) the POG is headed down due to declining jewelry sales, but so far the demand is being taken up by the long speculators. As long as America is going to fight the muslims, and American citizens are going to spend every cent they make and more, their currency is going to fall off the deep end. Perhaps they will finally have to reflect a little harder on their support for Israel, and I'm not even considering what Spitzer of New York is doing to the stock market ANALysts (gggggggggggggggg)

To: gemsearcher who wrote (3081)	5/30/2002 7:37:33 AM
From: nickel61	Respond to of 3558

That means the situation now is that the derivative gold short position is equal to all the gold held by all the central banks outside of the Washington Agreement. You now know why the Washington Agreement came into place in order to prevent just what is happening. Those Central Banks, seeing the figures, hoped to slow down the gold derivative trade by freezing their participation in it. Now you know why traditional gold dealers are leaving the gold market and expunging these instruments from their books. If all Central Banks in the world sold all the gold they held in a derivative melt-down, they would make the following offer: All Central Banks = 890,579,485 ounces of gold held to a Short Derivative Position forced to cover of 900,000,000 oz. Assuming that central banks then held no gold at all, the gold price would be in the hands of Dr. No and Hung Fat who would more than likely sell a segment for over $2000 per ounce with the attendant negative effect on the U.S. Dollar, making gold even more valuable. Thus, it is reasonable to assume Central Banks will not sell all or even a large part of their remaining gold. It will then be their primary reserve asset, growing in value, and like the 70s, they are more apt to buy then sell regardless of silly rhetoric.