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

To: long-gone who wrote (33682)	5/11/1999 11:50:00 PM
From: PaulM	Read Replies (2) \| Respond to of 116790

Mergers, Takeovers Drain Liquidity from LBMA "The takeover will also cut to 11 the market-making members of the London Bullion Market Association (LBMA), draining liquidity from a market which saw average daily turnover in March at 28.5 million troy ounces... " a series of bank mergers and takeovers -- including those joining Union Bank of Switzerland to Swiss Bank Corp and Deutsche Bank to Bankers Trust -- which has cut volumes in gold spot, futures and derivatives trading." biz.yahoo.com Richard, more smoke for you. First, let's translate "takeover" in the financial context : it reads "bailout." Also, I can think of another reason the gold market is "illiquid" these days. Can you? In fact, it was none other than Alan Greenspan who told us, in defense of derivatives, that central bankers stand ready to provide "liquidity" to the gold market, should the need arise. At least British Central bankers do. As for what you said, yes, I agree, but I don't know that 6% specifically is the magic number. The problem for the shorts is that gold won't go much lower. Therefore, the game has reached its end. The outcome is not in doubt, but brace yourself for lots of "surprise" announcements as politicians try to stave off the inevitable.