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

To: AF who wrote (26283)	1/15/1999 5:00:00 PM
From: Gord Bolton	Read Replies (2) \| Respond to of 116767

Gold closed up a dollar on a Friday. It is much more common for it to fall a dollar on Friday. I would suggest that that looks very bullish for Monday morning.

To: AF who wrote (26283)	1/15/1999 6:04:00 PM
From: Richnorth	Read Replies (2) \| Respond to of 116767

Yes, I have heard on a segment of CNBC that there seems to be an 'uncoverable' short position in gold incurred by J.P. Morgan??? Veneroso (http://www.venerosogold.com) first pointed out there's a major short position as early as November 12th 1997. See below:- "Global Gold Market Deficit Is 700 Tonnes Larger Than Consensus Estimates -Aggregate Short Position Too Large To Be Covered" NEW YORK, Nov. 12 /PRNewswire/ Noted international gold market analyst Frank Veneroso said today that Bundesbank disclosure of massive gold loans "confirms our view that the global gold market deficit is 700 tonnes larger than consensus estimates and that the aggregate short position in the gold market is too large to be covered... This is the beginning of a reappraisal of the gold market that will slowly unfold..." ------------------------------------------- Apparently the short position is far more serious by now. Seems to me the shorters will always find a way (or be allowed)to escape the ever tightening noose with help from the Feds, eh? How long will they be able to do this? Who knows? Until PANIC sets in!!! But when will this happen? Will anyone venture to guess?