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am sorry all you critics of larry muir and metropole dont get it
gold use to react classicly 10 years ago to inflation and commod stats but
now its purely a function of new ballgame - funds and bullion hses up shit
creek and short, margin calls in gold ,currencies,bonds,stocks
means huge asset related presures .......... abig share of the gold market
has to cover shorts and heamoraged badly
anyways a big us inv bank/ bullionhouse was defending agold call for
expiartion friday at the 330 and 340 and he dumped his delta yesterday and
caught the weak specs and interbank traders long so its quite normal
hope this helps cya
-----Original Message-----
From: Gary Fritz <fritz@xxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxx>
Date: Friday, October 15, 1999 5:11 PM
Subject: Gold, silver?
OK, rather than argue about Le Metropole reposts, how about we
actually talk about what the gold market is doing?
Based on all the furor over Larry's posts, I've been watching the
silver & gold markets lately. Looks like they tanked fairly severely
(5%) in the last 2 days. I would have guessed the PPI numbers and
AG's comments would have *lifted* gold, not killed it. On the other
hand, the drop started midday yesterday, so something else must have
started it.
Any guesses what caused this sudden drop, and how far it's likely to
go?
The XAU is down about 17% from its high a few weeks ago. Maybe the
price pop was just a temporary aberration, and it's going to continue
on its downward course now?
Seems to me, though, that if the stock markets start to tank (which
seems more and more likely) that gold will likely find new strength.
Correct?
Gary
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