Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : GOLD-XAU -- Ignore unavailable to you. Want to Upgrade?

To: IngotWeTrust who wrote (932)	1/2/1998 2:58:00 AM
From: Jaakko	Respond to of 1756

Suppose the Aussies had sold short their whole gold position at a higher price earlier in 1997 (which they presumably didn't have to report as a "sale" since they had the gold to cover if needed)...then after the gold had dropped later in 1997 they decided to make an announcement re "the sale"...and the POG responded by really dropping... after which they close out their short by buying 1/3 back in the market and moving 2/3 of their gold from their vaults. BTW a downward pressure probably was exercised by initial sale...