Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Zardoz who wrote (34616)	5/28/1999 12:28:00 PM
From: long-gone	Read Replies (1) \| Respond to of 116764

<<34618 "but why aren't the european central banks that smart?" Thought they tried to introduce a Euro coin, or was it a Y2K coin? Either way it didn't work to well for Canada, why would it work for them? Isn't this why Peter Munk went to Euro-land to convince them to turn CB gold into coins, more then a few years ago? Or did he go to see how much he could get them to lease to him, and started to agressively forward sell. I really wonder why he really went... hmmmmm Maybe Ken comments are spot on.>> But where Ken misses it(and I have posted this before), some miners sell forward not from leased & loaned gold, rather, from their own mined inventory prefering to borrow cash Vs gold. You will note mined inventories listed for HM, AU & some others. Thus, the forward gold they are using is their own which might well be viewed as an attempt to restrict current supply.

To: Zardoz who wrote (34616)	5/28/1999 12:30:00 PM
From: Ken Benes	Respond to of 116764

Hutch: Gold miners are a funny breed. They are similar in many ways to soldiers. On the surface they appear to be rugged individualists, however when you look a bit closer, they have a need to take orders and are team players. With the exception of Newmont and a few others, the producers(particularly the South Africans and the Australians) are in an alliance with the central banks and they are not the ones giving the orders. It is my opinion, that the executives of the gold companies have been bought and sold with a lot of perks and prestege given them by those who do control the gold market. It is also my opinion that GATA is barking up the wrong tree. To prove a conspiracy against the central banks and governments that they have been coconspirators in an overt effort to manipulate the price of gold is nearly impossible. The fact that a lot of the funds supporting GATA comes from the producers makes their efforts more suspect. To restore golds true equilibrium price would not be difficult. The producers themselves hold the cards. This fact is more evident with the realization that better than one third of the central bank holdings have either been leased or sold forward thru a syndicate of investment banks and producers. Should the producers withdraw from the game of derivatives in gold with the aforementioned as active partners, the game ends, period. Ken