Gold Continued to Power Ahead on Monday Morning in Australian/Asian trade after Fridays Strong Rise, Amid Rumors that a Leading U.S. Investment Bank was Covering Short Positions (Gee, I Wonder Who That Could Be?) Either for itself or for a Major Producer!

Full Story Here

YAHOO LINK

-- Zdude (zdude777@hotmail.com), February 06, 2000

Answers

OOP'S Two Links to the same Story.

I can't get anything Right Tonite!

-- Zdude (zdude777@hotmail.com), February 06, 2000.

Don't think this upswing will last. Could go a little higher only to come down again.

-- wide awake (ba3_4him1@yahoo.com), February 06, 2000.

Wide Awake,

The Latest Rumor from a source close to Barrick Gold, (Worlds largest Producer and Most Prolific Forward Hedger) is that they will announce on their Conferance call with Stockholders Tomorrow (Monday) Night that they are Ending their Hedging Program and will deliver Gold into their Hedges as they Expire instead of Rolling them over like they've done in the Past. If this happens Look for the Metals to Shoot for the Moon!

-- Zdude (zdude777@hotmail.com), February 06, 2000.

I'm really tired of hearing "rumors" Tell us something new... like... ya'll need to face reality.

-- Reality (Reality@check.com), February 06, 2000.

Reality,

Do you mean Like the Reality that Gold surged to near a four month high on friday???!!!

Or do you mean the Reality that it was due to Large Trading Houses, Commodity and Hedge Funds buying Gold as Players moved their Money to Physical Assets???!!!

Or do you mean the Reality of the Uncertainty in all the Fianancial Markets is being Reflected in this movement in Gold???!!!

Or do you mean the Reality is that Historically this type of Price Action in Gold Signifies a Flight to Quality???!!!

Or do you mean the Reality that eariler "Rumors" on this Bulletin Board concerning certain Wall Street Investment Banks being in Trouble are now being Openly talked about as "Rumors" in the Mainstream Press???!!!

Or do you mean the Reality that Gold-Eagles Server keeps Going Down Tonite (Sunday of all Days) because its being Accessed at a Rate Equal to 300,000 hits Daily, their Highest Rate Ever in their History???!!!

Or do you you mean like the Reality that as I type this Gold is up $7.00 an ounce Over Fridays N.Y. Comex Close to $320.00 an ounce in Trading in Austraila and Asia???!!!

Will Barrick announce an end to their Hedging Program Tomorrow Night?

Nobody knows for sure "Mr.Reality" thats why its called a "Rumor"!!!

As soon as I hear the outcome of Barricks Conferance call Tomorrow I'll Post it here on this Thread so We'll All Know!

-- Zdude (zdude777@hotmail.com), February 06, 2000.

Monsieur Reality, although a rumor, it is not a baseless rumor. In fact, Barrick is considering ending its hedge program because it is being threatened by its stockholders if it doesn't. Does that sound airy to you?

Sounds damn exciting to me. We could see $400 gold this week. Easily.

You do realize that hedging is the only reason gold isn't at its rightful place (maybe $600) right?

-- paul leblanc (bronyaur@gis.net), February 07, 2000.