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Imo...
If the banks decided not to sell, and as consequence,this market starts
running into panic.
What is to stop them from selling 300 to 700 tons of gold to stop it?
Don
> Stig O wrote:
>
> Just a few notes on what's happening around the world while you have
> been sleeping...
>
> In the enclosed gif you can see what Ashanti Goldfields said on Friday
> and what they did the next trading day (monday).
>
> Rgrda
> stig
>
> >MAD BOTTLENECK IN AUSTRALIAN GOLD MARKET
> >
> >Sydney, Oct. 5 (Bloomberg) -- Gold rose 4 percent to a
> >two-year high in Asia as speculators, producers,
> >investment fund managers and banks raised bids to buy
> >the precious metal in a rally that's seen the price
> >jump 22.4 percent in nine days.
> >
> >Gold for immediate delivery rose as much as US$13.15 an
> >ounce, or 4.1 percent, to US$330.50 an ounce in Sydney
> >interbank trading, the highest price since October
> >1997.
> >
> >Dresdner Kelinwort Benson bullion trader Paul Lee said
> >he's never seen anything like the move to buy gold to
> >cover forward and futures positions in his 10 years of
> >gold trading.
> >
> >"It's like there's a fire and everyone's running toward
> >the same exit door. We have banks, producers, hedge
> >funds all wanting to do the same thing at the same
> >time. We are seeing a supply bottleneck. Producers are
> >backing off from selling. They are standing aside and
> >not selling any more," he said.
> >
> >-END-
>
> Name: ashanti.gif
> ashanti.gif Type: GIF Image (image/gif)
> Encoding: base64
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