Apparently everyone waits to the last minute.

-- goldbug (goldbug@mint.com), December 21, 1999

Answers

Always!

Do not plan on being anywhere near a grocery store next week.

-- Squid (ItsDark@down.here), December 21, 1999.

Don't count your golden eggs before they hatch. This may be just a normal temporary rise followed by a normal temporary fall.

-- cody (cody@y2ksurvive.com), December 21, 1999.

Maybe Cody but I think the tide has changed...

Le Metropole members,

Charles Peabody has served commentary at The Man Ray Table entitled,

"Gold, Frankincense, and Myrrh."

"The three kings (central bankers, producers and financial hedgers) have come bearing gifts - gold at a cheap price. So, I'd like to take the other side of that trade and "receive."

"Even more noteworthy was the dramatic rise in gold derivative contracts at CMB and JPM with maturities of greater than five years. Even by the OCC's own admission, contracts with maturities longer than five years house the greatest market and credit risks. In short, for CMB and JPM, the stakes are high if the gold market does not maintain some sort of orderly state. I believe imbalances, as reflected in the huge jump in the notional value of gold derivative contracts, will lead to even greater volatility in the year ahead. It is my expectation that this increased volatility will be resolved to the upside in terms of price. Thus, I recommend the purchase of gold (spot - $287.50)."

Alan Abelson, Editor-In-Chief of Barrons, has nothing but the highest praise for Charles Peabody's financial acumen and gives Charles analysis of "what is what" in the banking world consistent mention in his column. There is a reason for that. Charles is a no-nonsense conservative analyst who speaks his mind as he sees it - and over his career has refused to "kow tow" to corporate pressure to say what the public wants to hear.

Cafi members know how RIGHT he has been all year on the bank stocks and interest rate predictions. He is "King of the Hill" of the banking analysts at the moment so the fact that he has stepped out to recommend buying gold to his institutional clients today is BIG news.

If Charles is as right on gold for 2,000 as he was on bonds for 1999, gold investors will have a banner year.

What Charles has to say in this piece is of profound significance. GATA is going to mail his analysis to the major gold producers all over the world. We think his findings to be of great importance.

THIS IS A MUST CAFI READ FOR ALL!!!!

Le Metropole Cafe

-- Andy (2000EOD@prodigy.net), December 21, 1999.

I dunno, Andy. I thought the tide had changed in September but the POG has risen from around $250 to only around $280; a nice little hike but far below its early October high. Also, there is an article on the kitco website (the third article on today's date) that is not very bullish on gold; it deals with the recent Dutch sale of 13 tonnes.

Just like with Y2K, when it comes to gold the more I learn the less I know.

-- cody (cody@y2ksurvive.com), December 21, 1999.

Cody - I know it's going up because I had planned on buying some gold options tomorrow when my money gets to the broker - they'll now cost me more!!!

-- Andy (2000EOD@prodigy.net), December 21, 1999.