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

To: long-gone who wrote (20542)	10/3/1998 8:12:00 PM
From: Al Cern	Read Replies (2) \| Respond to of 116767

Richard, I don't think you need to resort to conspiracy theories to see what has been happening to gold. The primary reason for the steep drop in the gold price can, in my opinion, be attributed to the "carry trade". It appears that it was carried out in the same manner as the yen carry trade, and at huge profits. It was abetted by the central banks, who lent out the gold. As long as the price dropped, or stayed the same, they were risking very little. They probably got the interest bearing securities that were purchased by the sellers as security. Neither buyer or seller nor middleman wants to see the price go up. So what happens, the XAU goes up more than 50%, while the POG goes up just over 10%. It will be interesting to see who wins. Baron Von Finck thinks he knows. If he was up against the Central Bank of Italy he'd certainly stand a good chance. Welcome back E. Charters. Sincerely, Al Cern