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

To: Frank Pembleton who wrote (15676)	7/12/2002 4:24:14 PM
From: t4texas	Respond to of 36161

yea, really!

To: Frank Pembleton who wrote (15676)	7/12/2002 6:34:40 PM
From: terry richardson	Read Replies (1) \| Respond to of 36161

Hi Frank: Re: "fwiw if I would been using lease rates as a buy/sell indicator - I'd of never quadrupled the size of my portfolio when I got bullish in December. ...it means squat to me..." Mine was a genuine question as well as seeking to bring to the boards attention the fact that the 1 year gold lease rate spiked from around 0.7% to 2.18% in a matter of minutes this morning around 9:00 a.m. similarly 3 month rate went from around 0.3% to 1.86%. Now these rates have all been hanging well below 1% for quite a while now so the sudden change sure meant something to someone. The rates fell back soon afterwards as it happened. The story before was that lease rates had fallen back below 1% because there was little interest from the Gold Carry Trade side anymore because the spread was too small to interest them with current low interest rates set by the Fed. A sudden jump in the rate would therefore seem to indicate that someone needed to lease gold quickly, and at whatever rate he could get. I thought someone might know of a reason for it happening, perhaps it’s important perhaps not. At least it might put the issue on someone’s radar screen who was more knowledgeable than I, and an answer might be forthcoming later in the day or week which might enlighten us all to some shift in policy somewhere. As it turns out it was probably nothing. Regards T.