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

To: Zardoz who wrote (22337)	10/27/1998 2:07:00 PM
From: Don Green	Respond to of 116955

> the REAL reason gold is up this week??? I guess I am looking at something different

To: Zardoz who wrote (22337)	10/27/1998 5:17:00 PM
From: Enigma	Read Replies (2) \| Respond to of 116955

Hutch - you're into a fantasy world now - didn't you read that post by Marcos on Barrick's hedging programme? They will not be covering their positions in the way you surmise, and they are not interested in manipulating the market. Here's my Barrick thread post to you on the POG generally: To: Hutch (785 ) From: enigma Tuesday, Oct 27 1998 5:00PM ET Reply # of 788 Hutch - thanks for your PM. The thing about gold, actually about any chart including the Dow as at present, is that it's hard to remember other times when the price was markedly different. So to many, the Dow will seem merely to be going though a correction - bulls will not believe we're in a bear market until when ?- Dow 5000? By this time they will be so shell shocked that they may be extremely gun shy about re-entering the market at all. Same with gold right now. With gold down here in the doldrums it's hard to remember what it was like when it was substantially higher - yet it will recover and go back up, and then these present prices will seem like the bargain of the century (excluding 1971 of course!) And I can predict one thing with certainty - there will be all sorts of technical and rational explanations for the move - but only a few will profit by buying at these washed out levels. It's always the way. All the things you are saying about gold were true (or at least could have been said) when it was at $400, $500, and higher. When it was at these levels it seemed cheap to many. We're not talking about a rational state, but rather the pendulum of the market. I don't agree that it is derivatives which create value in the market, because ultimately we are faced with the underlying asset. I should post this on GPM - I will in fact! E

To: Zardoz who wrote (22337)	10/28/1998 5:06:00 AM
From: Bobby Yellin	Respond to of 116955

Dear Hutch: The nice pop in xau has me a bit puzzled..not that I mind it..:-) With no Nato strike..(heard that USA defense spending is now only 3 percent of our budget versus 6 percent during "cold war"-)I guess I had expected a continuing falling back. Your explanation seems to be the only logical one..but curious why PH and AR for instance(copper plays moved up yesterday also)(You must have already made a bundle on your last trades which you bravely announced to all of us..good for you biz.yahoo.com .this is an url to vague comments by Rubin. My negativity is mainly based on consumers of the world in general.. It would seem since the cold war has ended,a new war between the very wealthy and the middle class has been established.. with the emphasis on austerity to get each country's books in order once again it just appears to benefit financial people and wrecks havoc on standard of living of the little guy.. Now it sounds as if Brazilians will be effected big time. I am curiously awaiting what is going to happen in Germany. I wonder how powerful their unions are and if their citizens will willingly give up all their benefits to be competitive..(I don't see how that will wash) I had read an article in Baron's after the first of year..don't have it though..one European money manager said that most of the bank lending before was not going towards investments in businesses but rather in"financial instruments"--the current lack of liquidity in my book doesn't mean much..if that analyst was correct.. Bobby