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

To: lorne who wrote (25473)	1/5/1999 8:37:00 PM
From: long-gone	Respond to of 117014

RE: London price fix of gold. Lorne, If Rothchild is manipulating it lower, they were also manipulating it higher through the prior best days of gold. It has always been thus. rh

To: lorne who wrote (25473)	1/6/1999 12:44:00 AM
From: Investor-ex!	Read Replies (2) \| Respond to of 117014

lorne, Isn't "price-fixing" illegal, even if "only" twice a day? Why does gold need "fixing" twice a day -- is it broken twice a day? Why aren't soybeans "fixed" twice a day? If gold is "just another commodity", why doesn't it trade like "just another commodity"? Some many questions, so few answers...

To: lorne who wrote (25473)	1/6/1999 9:42:00 AM
From: Enigma	Respond to of 117014

Lorne - I don't think there is direct manipulation of gold - but AG is very aware of the gold price - he has stated so on several occasions - and the recent events surrounding the LTCM bailout make one wonder if there was a strong desire on the Fed's part to avoid a buying panic if LTCM had to repay its gold loans with gold. The rumour is that LTCM settled in cash rather than gold. As for the London gold fix - the system is archaic - but probably works well. A while ago on this thread someone posted some very interesting info about daily trading of physical gold on the London market - the volume is HUGE - so when people talk about this central bank selling so many tons - I wonder if they realise that daily trading on the London market can usually absorb what is thrown at it, and then some. With central bank selling we're often dealing with perceptions - in a typical year selling and buying are about equal - but analyists and the slavish financial media usually focus solely on the selling. E