Gold: If you want to watch something entertaining...

greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread

Now this is interesting. Look at kitco's continuously updated price of gold graph.

http://www.kitco.com/gold.graph.html

Gold was fairly quiet after the U.S. trading day ended, was reasoonably well behaved when the Australian trading day commenced, but when Hong Kong opened, the price started skyrocketing upward. This might be worth watching through the night.

-- nothing (better@to.do), September 29, 1999

Answers

I'd say those Londoners were buying a sovereign or two too...

-- Y2KGardener (gardens@bigisland.net), September 29, 1999.

The key may be what someone posted on this site earlier today: that the monthly gold lease rate has hit 9-9.5%! Can anyone provide a site or link or story to confirm this? Afew weeks ago, it was a few per cent, so the shorts were making money off the spread between it and US t-bill rates. The tables have turned, at least for now. But how much accumulated short position is out there, caused by all these shorts getting in on a 'sure thing" over the past several YEARS? Read the RED BARON article on the gold-eagle site.It is dated late last month. It says that the central banks would NEVER allow gold to rise! Now if you extend this logic(?) to Greedspin and the stock market, it is easy to say with finality that NO CENTAL BANK OR FED is, or can ever pretend to be, BIGGER than the market itself. They may THINK that they have mastery, just because they have plugged the occasional hole in the dike. But look closer--the WHOLE dam is cracked! What does that say about the day of reckoning for this bubble-mania?

-- profit_of_doom (doom@helltopay.ca), September 29, 1999.

http://infoseek.go.com/Content?arn=a2238LBY477reulb-19990928&qt=gold,+ silver,+platinum,+palladium,+rhodium+-olympic+-olympics+-medal+-medals &sv=IS&lk=noframes&col=NX&kt=A&ak=news1486 Seems to say if gold holds $286, it will reach $350. Also, resistance is at $308 or so, and it WAS above that on the opening in LONDON on the 29th, but closed below that in NY. It's right near that $308 as i type this near midnight NY time 29th.

-- profit_of_doom (doom@helltopay.ca), September 29, 1999.

Hey, nothing, check this out! If you go to the kitco site and access the PM order page, it says IN BIG RED INK, that no orders will be accepted online overnight (instantly like B4), and must wait for morning open price confirmation, due to "volatility" in the PM markets! Wild rideing.

-- profit_of_doom (doom@helltopay.ca), September 29, 1999.

lease rates: www.kitco.com/lease.rate.html (link at bottom of quotes page) I think silver rates have DOUBLED since yesterday. What perxactly does such a huge jump imply? Some metals forum people were delirious about +400 basis points yesterday, now the numbers are 2x that. SPot silver went up 0.40 or so but down in US today. The lease rate kept going. Someone able to explain?

-- wd s (wd@toptexas.com), September 29, 1999.


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