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

To: Enigma who wrote (32834)	4/29/1999 3:39:00 PM
From: Zardoz	Read Replies (5) \| Respond to of 116753

"a) Did you forecast a surge this month?" I thought my somewhat silent nature on POG {with the exception of the monday $280 open price} [and it did get to 280.30 on the day??] would suggest to all that I felt gold was somewhat neutral for the week. "b) as someone asked, what does a strong close here (above $285) signify?" Nothing. Neither did the low of $280. And neither does the XAU climbing to 75. You should know that shorts SELDOM ever get nervous when it comes to commodity producers cyclicals. Most Shorts are covered shorts, few are hedged naked. You should consider only 2 things based on the POG rise today: 1) Has the open interests in the futures gone up or down, considering the gold's directions? 2) Is the volume of the futures significant today? { I show around 20,000 contracts for June? May be wrong.} Consider this: Has the BASE stocks moved faster then the POG? How has monetary currency fluctuation affected GOLD this week? You know my opinion! Congress will pass the IMF sale, reguardless of the bull they say now. Someone would point out that it's in USA best interest to demonatorize the IMF, and give more power to the USA. So the Debate is a lame excuse. Why does the IMF need GOLD?