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Gold/Mining/Energy : Pacific Rim Mining V.PFG -- Ignore unavailable to you. Want to Upgrade?

To: Phil Jones who wrote (9436)	4/6/1998 9:03:00 PM
From: Alex Harrington	Read Replies (1) \| Respond to of 14627

Phil - don't believe everything you read Message 3974792

To: Phil Jones who wrote (9436)	4/7/1998 9:10:00 AM
From: Enigma	Read Replies (1) \| Respond to of 14627

Unless Buffett says something I would take Ted Arnold of Merrill Lynch as a source with a vested interest - see yesterday's post. Also a lot of other posts on 'Gold Price Monitor' string. Also the following from yesterday's Comex News: The Financial Times quoted a two-week-old Merrill Lynch report saying that Buffett's Berkshire Hathaway Inc (BRKa - news) may have liquidated a third of its 129.7 million ounce long position it announced last February. The article sent the market reeling with heavy selling, even though many traders expressed skepticism about the report. COMEX May silver closed at $6.370 an ounce, down 20.5 cents from Friday's close, trading between $6.260 and $6.575 an ounce. ''Clearly, the silver market took its cue from the Buffett rumors,'' said Carlos Peres-Santalla, a trader with Hudson RiverFutures. ''The question is how much truth there is behind the rumor.'' ''As the day wore on, I was less inclined to believe the rumor,'' said one precious metals analyst. ''The market has enormous potential to rally tomorrow.'' In the bullion market, spot silver was quoted $6.40/43 an ounce, compared to the late London fix at $6.635 an ounce, and Friday's New York close at $6.60/63 an ounce. ''The market has been trading in a sloppy range for the last two weeks,'' said James Steel, commodity analyst with Refco Inc. ''$6.50 looked like a good level for profit-taking. There was some trade buying at the bottom of the range.'' Steel noted that COMEX stocks were lingering at 12-year lows. ''The downside is very limited from here.'' He added that if gold could rally further, it would likely take silver with it. ................................................................................................... The Buffett rumour may be true - but Arnold has been a precious metals bear generally for some time now. I can remember the time when he was very much the opposite.