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

To: Alex who wrote (32645)	4/27/1999 10:34:00 PM
From: PaulM	Read Replies (1) \| Respond to of 116758

imf gold sales...IMF Gold Sales...IMF GOLD SALES!!! search.news.yahoo.com Magnanimous of the IMF to tell us six months in advance that they're going to sell 10 million ounces. Must be part of their bid to improve transparency. The good news: they're going to sell over an EVEN LONGER period time. (So as not to disrupt the market.) Can you imagine the disruption if they sold 10 million ounces all at once? THEY COULD WIPE OUT THE ENTIRE SHORT POSITION ON THE COMEX--THE WORLD'S MAJOR GOLD TRADING CENTER--IN AN INSTANT! P.S. Seriously. The dollar block needs three things to maintain the low gold price: (1) negative sentiment (helped along by the occasional well publicized official sale); (2) lots of liquidity for the short sellers (Greenspan, unregulated derivatives, and the occasional LTCM type bailout do the trick here); and (3) a supply of physical gold. Judging by how loud the IMF is, I suspect they're losing the third.