Gold, Silver and Other PMs

Top 51. Nov 23, 1999 8:57 AM

» Kirk - Gold up $3 today to $298

Gold up $3 today to $298

Gold Prices

-- posted by Kirk

Top 52. Nov 23, 1999 5:36 PM

» Whirlwind - Gold...

Hi Kirk,

I suspect gold fell as a result of Kuwati and Jordanian sales and ahead of the Bank of England bullion sales as well. Those leveraged the wrong way on the commodity are in still trouble and I suspect that once the BOE sales are over, the latest high of $329 will be breached. Cambior and other gold producers who guessed wrong and hedged heavily at $275 and under will be skinned alive. Some believe $335 gold for any sustained period would be a deat knell for Cambior. Barrick would hurt also as well as other major producers hedged poorly.

So the XAU isn't necessarily going to react positively to rising gold prices. Word on the street is that $300 to $302 area is critical. If breached, $310 and then new highs for the year. I still believe a spike to $600 in the next couple of years very possible.

Best wishes, --Al

-- posted by Whirlwind

Top 53. Nov 29, 1999 8:57 AM

» Rande - Looks like it's once again time to look for gold in them thar v

Looks like it's once again time to look for gold in them thar valleys, as opposed to them hills. Talk about a $290-$300 roller coaster.

-- posted by Rande

Top 54. Feb 5, 2000 7:24 AM

» Whirlwind - Gold

Look for gold to really take off after the March Bank of England. COMEX silver stocks are sitting around 73 million ounces. Look for silver to fly if that total falls below 65 million. Platinum and palladium are making sharp runs here. In the past they have retraced without having pulled gold very far with them to the upside. This could be a different scenario this time around.

-- posted by Whirlwind

Top 55. Feb 5, 2000 7:25 AM

» Whirlwind - Auction

(Bank of England's final gold auction in March.)

-- posted by Whirlwind

Top 56. Feb 24, 2000 11:39 PM

» Prospector - Battle Mountain

the Mess you talk about started over by Carlin,, the Prospector that discovered the Gold Pacer was William Beazzard from Mountain Home,Utah grew up in lower Rock Creek.. Bill is 82 years old and was paid 2 million dollars for his claim,, so far they have only givin him 1 million and the lieyers find ways of legalily holding back the rest of Bills money,, the geoligists of the rich mining companys have found gold west of Carlin all the way to Battle mountain and beyond,, real fine Micro gold..

your right they are makin a mess of the mountains but there ain't many people around to hear it.. only the ones workin out there..

Prospector...... http://www.prospector-utah.com

-- posted by Prospector

There's Gold in Them Thar Hills

Top 57. Feb 25, 2000 12:15 AM

» JenL_2 - Prospector...

Thanks for the insight on the 9/26 Seattle Times article posted above:

I thought it was interesting, because it gave both sides of the classic dispute - jobs vs. enviroment. Somewhere between there is a balance to be found.

Glad you found this thread. I think you're gonna like it here. Among our group we have our favorite Gold Bug - Whirlwind (Allan - who happens to be a penny stock investor BTW.) ; a Real Alaskan Gold Miner - Dewam; and now we have a Utah Prospector. Hope everyone checks out your great website. Welcome - Make Yourself at Home @ Suite 101!.

....Jen

-- posted by JenL_2

Top 58. Jun 27, 2000 8:13 AM

» FCSTECKIII - Inflation not reflected in the XAU

One would think that if inflation was really a
major threat, the POG would certainly be on the
rise ...

In looking at the current Gold and Silver Index,
we see no major advancement for either Gold or
Silver. Please note that the huge spike during
the Sep-Oct period was caused primarily do to
short covering ...

XAU Current Chart:
http://finance.yahoo.com/q?s=^xau&d=b

What's interesting, is that there was huge upward
movement in 1993. There reason for this was that
the FED was lowering s/t rates and increasing the
money supply in 1993. Also, the U.S. Dollar was
much weaker against other foreign currencies in
1993. In essence, inflation, as measured by the
POG, was higher in 1993 than it is today ...

XAU History Chart:
http://finance.yahoo.com/q?s=^XAU&d=my

-Thanks

-- posted by FCSTECKIII

Top 59. Jun 27, 2000 8:20 AM

» Rande - Fred,

Fred,

Agree the POG is signaling no inflation to speak of. In fact, the current contract in the mid-280s may even be disinflationary based on cost of production. Even the Feb. 01 contract is only $293.

BTW -- Speaking of futures, backwardation persists in the light sweet crude oil futures. The Sept. 01 contract has a price of $24.75/barrell and the Dec. 01 contract has a price of $23.93. Right in the mid-20 range OPEC is looking for. Hopefully, we won't have to wait that long.

-- posted by Rande