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

To: long-gone who wrote (21323)	10/9/1998 9:56:00 PM
From: waldo	Read Replies (1) \| Respond to of 116788

Richard, no question on your bullishness re gold...it's amazing how many more houses cover da yellow every week. Wall Street will soon be screaming for gold analysts, if not already. BTW, you have got to be very happy with Murphy re HM. Some say what he does for a living is more of an art than a science...if this is true, JM is Picasso, and Fleckenstein is Dali! LOL W :>)))

To: long-gone who wrote (21323)	10/10/1998 12:31:00 AM
From: ForYourEyesOnly	Read Replies (3) \| Respond to of 116788

Warning Martin A is starting to spread rumors.....is he now resorting to dirty tricks? From Gold Eagle Forum today: "(AG-Man)Oct 09, 23:47 I have been conversing with Martin Armstrong at PEI about silver. He raised some interesting points which I wonder if others can verify. Firstly, that the regulators in the UK are planning to introduce forward silver contracts on the LME later this year (and forcing all the UK silver depositories to report their stocks, which MA believes are huge). Secondly, that there are 500 mill ozs of silver parked at Zurich airport in a warehouse, owned by some arabs (for a long time, I assume). Appreciate anyone's thoughts\comment on this." Any thought on how to respond? The battle is starting to heat up! THC

To: long-gone who wrote (21323)	10/10/1998 9:36:00 AM
From: goldsnow	Respond to of 116788

Richard, the whole aversion to Gold is based on the very same premise that Dollar a reserve currency is untouchable and would be defended, the concept of Gold demonitisation is nothing more than that ...So the same voices are in play again, but with crack in their conviction, and when that happens who knows what would they buy or sell next..:) >>>''I just never thought that one would see a move of this magnitude,'' said Robert Parry, president of the Federal Reserve Bank of San Francisco. But U.S. officials remained largely silent on the decline, offering no hints of plans to support the dollar. >>> Dollar Falls To Biggest Weekly Loss In 25 Years 05:29 p.m Oct 09, 1998 Eastern By Svea Herbst-Bayliss NEW YORK (Reuters) - Battered by the fallout from a deepening global financial crisis, the dollar fell again Friday to post its biggest weekly loss against the Japanese yen in 25 years. It ended little changed against the German mark. The dollar fell nearly 17 percent against the yen this week and is now off about 27 percent from its high of 147.63 yen hit in August. The dollar's decline came as hedge funds and other speculators had to buy yen to cover earlier bets that the yen would fall. The dollar stood at 116.35 yen late in New York, down from 118.90 late Thursday. Against the mark, the dollar ended the day and week almost unchanged at 1.6359, up slightly from Thursday's 1.6355. And with no way to tell how many other yen positions may need to be unwound, analysts were reluctant to predict when and where the dollar may stabilize. Since many investors were convinced the yen would weaken further as Japan's economy remains in recession and Tokyo is making only slow progress on cleaning up its ailing banking sector, the sudden demand for yen caught dealers by surprise. Gripped by panic selling, currency dealers sent the dollar down over 20 yen in two days and only began buying dollars back Thursday amid rumors that central banks were preparing to end the slide and support the dollar. ''I just never thought that one would see a move of this magnitude,'' said Robert Parry, president of the Federal Reserve Bank of San Francisco. But U.S. officials remained largely silent on the decline, offering no hints of plans to support the dollar. Japan's Finance Minister Kiichi Miyazawa Friday helped push the dollar lower when he dismissed talk of open market intervention in Japan by saying ''the movements will eventually stabilize even if we leave it alone.'' The dollar also came under pressure amid talk the Federal Reserve may soon cut interest rates again after the central bank cut a key short-term rate a quarter point last week. This week, Spain, Britain, Portugal and Ireland all trimmed rates but Germany's Bundesbank signaled it would probably hold rates steady until 11 European nations adopt a common currency next January. Lower U.S. rates tend to make dollar-based assets less attractive. The dollar's fate now hinges on the outlook for Latin America and whether an international aid package can be put together for Brazil, the latest victim of the financial turmoil that has already engulfed much of Asia and Russia. ''If it looks like Brazil will get its aid deal and the U.S. Congress agrees to release the $18 billion for the International Monetary Fund, then I think markets could stabilize next week,'' said Henry Willmore, senior economist at Barclays Capital. But before any final decisions are taken, dealers are bracing for more volatile trading as the markets swirl with rumors of further rate cuts by the Fed and more ailing hedge funds. The fund Long-Term Capital Management avoided a collapse last month only by accepting a $3.5 billion bailout from banks and investment houses. The British pound fell to $1.7050 from $1.7110. The dollar rose to 1.3237 Swiss francs from 1.3180. But it fell against the Canadian dollar, to C$1.5425 from C$1.5450. Foreign exchange trading is expected to be quiet Monday because of observance of the Columbus Day holiday. The stock market is open but the government bond market is closed. Copyright 1998 Reuters Limited.