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

To: Gary who wrote (3190)	11/16/1997 3:13:00 AM
From: Greg Ford	Respond to of 116836

The negative sentiment in the market will not subside until high cost production is eliminated and the fundamentals of gold require that prices rise (this could occur as high cost producers, read PGU, ECO and RYO and others as well as some South African mines shut down) and the situation regarding the EMU clarified. This should occur some time next year. The market on the technical side seems to be gunning for $285 which was the 1985 low. Elliot wave fans will believe that moving to these low targets is in line with previous predicitions. I believe that these low prices are a combination of an incredibly large short position on Comex, a hot stock market and untimely announcements and sales by various central banks. In the mean time all us goldbugs can do is put our heads down and wait this out, better days are sure to be around the corner. Greg

To: Gary who wrote (3190)	11/16/1997 11:49:00 AM
From: Alex	Read Replies (1) \| Respond to of 116836

Hi Gary. Thanks for the posts and tying the Elliot Wave and P.E.I. projections together. Hope we don't have to wait till 99 to see this happen, but with the current manipulation (IMO) of the pog, it would not supprise me. I can understand the pog taking a hit on CB selling or even the rumor of CB selling, or, on the announcement of non inflationary numbers. What is beyond me is the pog being hammered because Greenspan mentions that the U.S. has been overstating inflation for years in the CPI number. This news is ancient. It just seems that any news is bad news today for the pog. That's hysteria.

To: Gary who wrote (3190)	11/16/1997 12:36:00 PM
From: Sean Beingessner	Read Replies (1) \| Respond to of 116836

In Saturday's Financial Post, a Canadian Newspaper, pg 46, there is an article, "Suffering through golden daze". In the article there is a graph showing the spot gold price and the lease rates. It covers a few years. There are three upward spikes in the lease rate. The first spike was "about 60 days before the last run-up in the gold price in February 1996". The second smaller spike around December of 96, the last not so long ago. I assume that an increase in the lease rate can cause those, who have leased and sold or consumed gold to cover the position. So depending on the average duration of a lease contract, there is a delay between the rates going up and the covering. I would like to learn more about this. Does anyone know where on the net you can find the lease rates for gold? How and by who are these rates set? Finally, what is the average duration of a gold lease? Sean