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

To: IngotWeTrust who wrote (1382)	3/21/1998 10:39:00 AM
From: Lalit Jain	Respond to of 1756

Ole 49r, Thanks for the Buffy/silver info. Wow ! If this report by Siegel, could lead to a jump in Ag prices in the last 10 mins of Friday's trading, I wonder what it will on Monday. Platinum and Palladium are both up strongly. Looks like silver is going to rally too. Gold may not be far away. The BoB (Bk of Belgium) sold 300T Au recently to 5 other CBs. Why would the other CBs buy when BoB is unloading ? 1. Maybe the CBs want to stabilize the POG. 2. Maybe the CBs think the POG is going up, but then why would BoB sell ? 3. Maybe the CBs want to inturn lease the gold at attractive lease rates. 4. Maybe the CBs have already leased/sold out a good portion of their reserves, and now want to replenish their vaults. 5. Maybe the CBs are covering their shorts. 6. Maybe the CBs want to mint Millennium gold coins soon. MY personal view is that the CBs had leased out and the gold has been consumed (gold demand in India-grin), OR, they are getting ready to mint Millennium gold coins soon. I am predicting a severe shortfall of gold for the year 1999 (about 3000T), which can only met by CBs liquidating a lot of their reserves. Watch for a sharp increase in the POG by the Yr 2K. And yes, cheers to Buffy, the POS is going up on Monday, I THINK. ;-) Regards, Lalit Jain