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

To: bill who wrote (32617)	4/27/1999 12:48:00 PM
From: goldsnow	Read Replies (2) \| Respond to of 116756

Hutch had to cover :)

To: bill who wrote (32617)	4/27/1999 1:34:00 PM
From: long-gone	Read Replies (2) \| Respond to of 116756

Welcome. Cost of "dues" for joining the gold bugs club buy & hold at least 1 part of one oz gold and shares of a miner. Bill Murphy From Gold Anti-Trust Action(GATA) Committee testify before Congressional Banking into the manipulation lower (by at this point unknown sources) of the price of gold. Demand is high for gold and growing daily. Demand for silver is growing faster than the demand for gold(and faster than supply) due to coming automotive uses. Production of both commodities is represented by members of the XAU. It has been widely reported(from educated guesses) that the short position for gold may currently be in excess of 3000 oz., while it is a fact of history the demand last year out stripped mine production. Also, several mining companies (members of the XAU) reported earnings for the quarter that were far greater than estimates(and not widely reported by the broad news media). Yes, there are mining companies that can make a profit in spite of these lowest of all time gold prices. There is an ongoing consolidation in the industry (also not widely reported) and there have been widespread failures of (lesser?) precious metals mining and exploration companies. Some mining companies which are just hanging on have suspended or reduced future exploration efforts. Future supply could be adversly affected. The President just ordered 30,000 soldiers & airmen from reserve to active status. Inflation often follows any widespread active duty deployment of US forces. Many going active duty in a war zone often carry an oz or 3 of gold in hip pocket "just in case". US dollar may not be assured of buying power everywhere like gold.

To: bill who wrote (32617)	4/27/1999 1:38:00 PM
From: Enigma	Read Replies (1) \| Respond to of 116756

bill - my take on it is that gold has been strong today after yesterday's sharp sell off - and this is encouraging after Japan's lobbying for even more IMF sales - so the leading stocks have taken their cue - after all there must have been those who thought gold would not even hold at $280. dd

To: bill who wrote (32617)	4/27/1999 3:24:00 PM
From: sea_urchin	Read Replies (1) \| Respond to of 116756

bill : Bear with me Why does the chicken cross the road --- because it wants to. Why does a chicken, without a head, cross the road --- because some technician says it will. And, if you don't believe me, I'll bet you it does. Ha! Why does the XAU go up, when POG goes down --- because some technical indicators are turning up iqc.com Look at the stochastics. Yes, going up Now look at the gold price chart digisys.net Stochastics also turning up. Now you know the news before it's happened. Has nothing to do with economics. Prices are driven by screen jockeys and how much they want to bet. If XAU gets through 70 it's likely to go up a lot further because there's a nice consolidation pattern happening. Also penetration of 200 day EMA and resistance line. So, let's push it and see what happens. Don't forget there is a veritable army of economics journalists and other experts who are ready, willing and able to give whatever explanation suits the event. Ad hoc, ergo propter hoc! A few days ago I asked Hutch "If he didn't know it was the XAU wouldn't he say the chart would go up 20 points?" That's the point. Because it was the XAU, even experts are bearish. The mention of the word "gold" can cause some people to shiver.