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

To: ahhaha who wrote (34814)	6/2/1999 10:11:00 PM
From: baystock	Read Replies (1) \| Respond to of 116769

<<The panic psychology is bringing about what will destroy them, the rise in the price of gold, because they will have to get supply they don't have at prices below where they can supply it.>> Won't the mining companies who have sold forward be covering their foward sales over time out of their future production? In this case a rising gold price shouldn't really hurt them other than missing out on the difference between the price they sold forward and the higher price. Or will they be getting the equivalent of margin calls from their bullion bankers forcing them to buy on the spot market to cover these forward sales sooner than was planned ?

To: ahhaha who wrote (34814)	9/21/1999 3:29:00 PM
From: Cynic 2005	Read Replies (1) \| Respond to of 116769

<<I can't emphasize how important it is to understand how supply attracts price. It is a corollary to Say's Law. On the NYSE one says, "price moves in the direction of orders in the book", >> Based on today's price action in gold (up over 5 bucks after the BoE auction which went through at 255 handle), it is possible that your theory is at works. However, the same can't be said about price of gold after the BoE auction in June. I am assuming that there wasn't enough supply-demand imbalance to cause the price rise on the previous auction. Correct? Also, what do you make out of the s-d picture based on the $5.5 rise in gold after today's auction that was over-subscribed by 8 times! TIA!