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Gold/Mining/Energy : Bema(Bgo) and Arizona Star -- Ignore unavailable to you. Want to Upgrade?

To: john a who wrote (8251)	11/2/1997 5:07:00 PM
From: Norm Gardner	Respond to of 10482

IMO you won't have to wait to long for the POG to start back up. In fact way up. This is a post from the Kitco thread. Allen(USA) (@HowNuchMoneyDoYouHaveToSpend) ID#255190: In previous posts I put forth a possible US pot of $50 Bln looking for gold or silver. That would be private demand to supplement portfolios to a level of 5% in bullion. We have heard that Mr Gates is a buyer and that this has inspired his minions to the same task by his example. No doubt this word will spread like fire in the computer industry, no? COMEX stores dwindled 3.8%, 4.2%, 8.2% and 10.5% ( yesterday ) in the past four trading days; 32 Koz, 34 Koz, 64 Koz and 72 Koz respectively. Stores level is 640 Koz now. There is an obvious quickening in the pace of withdrawls. With an average of these numbers at 50.5 Koz per day draw down we have approx 12 days supply remaining. If the quickening accelerates according to these four numbers than we are talking about a complete withdrawl of stores in about 5 to 6 days time. DO YOU HAVE YOUR GOLD NOW? And when gold is exhausted at this price where will silver go and how fast? Regardless of the intentions of CB's to manipulate gold pricing on international markets the EFFECT is this provides a buying opportunity an there are some very hungry interests out there right now. In fact I look at this price situation as one way to provide and opportunity to DRAIN gold out of the system which is exactly what is happening, whetther this is an intended consequence or not. If the price does not rise than no more gold will be depositted in these warehouses for sale because if it wasn't up for sale before it certainly will not be now at these prices. DO YOU HAVE YOUR GOLD NOW? As an addition to the above comment, Frank Vereroso "a renowned gold analyst has calculated that the short position on gold is in the area of 6500 metric tonnes to 8800 tonnes. Most of this gold has been loaned from the CB's. This short gold is sold gone gone gone to India and elsewhere. So this Swiss talking of selling 400 to 800 tonnes is a drop in the bucket compared to the short position. It will be very interesting if this Asia currency crisis escalates. We could easily see gold up $50 to $100 in a day. No need to wait 2-3 years like some are saying. Bema and AZS holders will be well rewarded for holding on IMO. The safest position is to be long and not short.