Gold closed above $260 today, after good turnout at latest gold auction in London. Someone is buying. Who or whom? Was it Andy?

-- y2khippo (y2khippo@yahoo.com), September 21, 1999

Answers

My guess is that it is the Arab oil Sheiks. Their product is denominated in a worthless asset (dollars). They want to protect at least some of their wealth.

-- Mr. Adequate (mr@adequate.com), September 22, 1999.

Yes :) I got in just in time and locked in 38oz at $255. I believe the time has come... the fat lady is warming up...

-- Andy (2000EOD@prodigy.net), September 22, 1999.

38 out of 25 million troy oz., I don't think Andy can take credit for the $9+ move in the past 2 days. Someone big is buying, but who?

-- Bill (y2khippo@yahoo.com), September 22, 1999.

It's just possible the Brits are selling it to themselves. The perception being that the "Free Market" doesn't justify higher prices. Therefore, hold dollars, pounds, etc. Just a game, but the perception is what matters. Go back to sleep.

-- A. Hambley (a.hambley@usa.net), September 22, 1999.