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

To: marcos who wrote (22216)	10/24/1998 5:30:00 PM
From: Zardoz	Respond to of 116758

Macros, would this be the quote you are referring to: "If there is a higher than +10 Billion in M2, UP for gold, all else, and probably down. Most traders are selling the gold futures, and gold equity today, to lock in profits." Well looking at the XAU action, and the spot price of gold, which moved in opposite directions; I'd assume I'm correct. If I quoted the wrong section, send me a private email with the correct quote, and I'll respond. Maybe what occurred on friday was a producer adding support to the gold by buying futures? Just maybe it's the gold producers that stopped the collaspse of the XAU on Aug 21, buy closing out open future contracts? From: #reply-5436035 Friday, Aug 7 1998 "...the XAU should accelerate down to around 52-56, in the coming weeks." the red line is where I made my prediction: {it hit a low of 48} mypage.direct.ca See what really bugs me, and it's constantly wrriten about on this thread, is a 8000 ton short position. NO post that I've seen says whether that short position is covered or uncovered. Looking at ABX's position, they have over 300 tons short, but it's classified as a covered short. But until you can show who has the shorts outstanding, than you must assume zero uncovered short. And as such doesn't put upward pressure on gold. You know marcos; I could argue, better than those that post on here, as to why gold should rise. And can even display it graphically. mypage.direct.ca And yet I wonder as to why people are long term holders of gold equities, and believe that the monetary system will collaspe? This is why I say that XAU equities should be traded regular. And only a small bartering amount should be kept. {PS: sometimes I do place typo's in the wrong place... like decrease should be increase etc. haha.} The XAU chart shows a further dropping back to 55 range. But who would beleive it from here? It's ABX that is holding the XAU up.