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

To: Mark Bartlett who wrote (29543)	3/8/1999 8:22:00 AM
From: George Castilarin	Read Replies (1) \| Respond to of 116764

Monday March 8, 6:55 am Eastern Time Gold firm in early European trade, eyeing upside LONDON, March 8 (Reuters) - Gold firmed gently during early European business on Monday, moving to the top of its recent range as dealers looked for a test of $289.00 resistance. London gold fixed at $288.50 a troy ounce in the morning, up on Friday afternoon's $287.90. Spot gold was last at $288.55/$288.95, 65 cents firmer than Friday's New York close. ''Gold's done nothing this morning but I think the price has firmly established itself above $288.00. I think we now start heading towards $295.00,'' said one London dealer. Several dealers talked about buying on the part of one U.S. bank as helping to underpin prices. ''One of the American houses has been buying substantial amounts. It looks to me like a mine buyback,'' said one. Miners typically forward sell a portion of their production to lock in returns and guard against price falls. Buybacks occur when producers choose to cash in gains or to profit from what they see as a turnaround in dollar gold or local gold prices. Another dealer said $290 resistance on the COMEX April gold futures contract was the first hurdle. ''Although there appears to be a good buy order just below the current market, gold really has to break $290.00 on April and then $290.00 spot before we can get excited about this market,'' he said. The heavily short-sold market might yield a covering rally if spot prices rose above $292.00 spot, he added. One dealer said silver prices were likely to dawdle this week as the market awaited the release of Berkshire Hathaway Inc's (NYSE:BRKa - news) 1998 annual report and news on the fate of its 130-million-ounce physical silver stake. ''I think we are probably going to see $5.15/$5.35 while we're waiting for that,'' said one dealer. Berkshire Hathaway chief Warren Buffett declared the silver position in February last year, sending spot prices to $7.90 as forward markets dried up and leaving the market guessing ever since as to whether, how and when he might get out. Silver was last at $5.24/$5.27 against New York's Friday close of $5.20/$5.23. Platinum was down $1.70 at $374.00/$376.00 while palladium was $2.50 lower $345.00/$350.00. --------------------------------------------------------------------------------

To: Mark Bartlett who wrote (29543)	3/8/1999 12:12:00 PM
From: Hawkmoon	Read Replies (2) \| Respond to of 116764

Tell us all Ron - where does one like yourself go to get "the facts" .... just because a person only published one book, does not mean it is fiction. I didn't say it was fiction. What I was implying is that without documented source material annotated in the footnotes or biliography, then you essentially have the writing that reflect one person's unsubstantiated opinion. There are many thousands of authors out there, including those of us who express our thoughts "out loud" here on SI, who have a particular opinion and seek to make use of whatever material is available to support that opinion. But that doesn't make anything we believe "factual". Much of historical reference is tainted by an author's failure to attempt to understand the context of a particular event. He/She may have no documentation that describes exactly what the true rationales were for the person's who played integral roles in history. What one man might interpret as conspiracy may, in fact, be merely a bungling effort to preserve "face" on the part of the person making the final decision that effected that historical event. The world is just not that cut and dried from my perspective. There are just too many forces and personalities involved for anyone to truly discern the rationales of most decision makers. Did Clinton bomb the aspirin factory in Sudan as a result of a "clear and present danger" or was it an attempt to deflect public opinion from Monica's testimony. Did he launch his 4 day missile fling in Iraq for security reasons, or because he wanted people to pay more attention to the "wargames" than to the impeachment vote? Btw, I have one hell of a lot of respect for the Canadian Army. I hope that was not miscontrued. I just think you all got a bad deal having incompetent British leadership in control of your forces (although we had some incompetent leadership at the divisional and corp level). Do you not see the "reality" ..... let me suggest a possibility .... there is no reality, only 100 different versions of the "truth". Truth can be a moving target, depending on who is taking aim and what the target is. However, facts are facts. But truth and facts are not the same. Truth is an interpretation of the facts. Regards, Ron