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Now this may be the REAL reason Gold rallied today. It should be clear if you read the "Gold" post earlier.
Stig
>
>Le Metropole members,
>
>The pulse of the gold market has really
>picked up. April Comex gold last traded at $298.80,
>up sharply on the day so far.
>
>As mentioned in last nite's Midas, there were
>massive stops $2 to $3 above yesterday's gold close.
>Two well known funds alone were short at least
>7,000 contracts. No more. They were taken
>out this morning.
>
>Sources close to the Cafe now tell us there
>are additional massive stops building right
>above $300 basis the April contract. We also
>understand that Goldman Sachs is waiting for
>them to be touched off and plans to sell into
>the buy stops.
>
>Speaking of Goldman Sachs. Rumors continue to
>circulate that they, Deutsche Bank and Merrill
>Lynch are the ones with the trading problems
>due to the steeping yield curve.
>
>Goldman Sach's share price was down almost 6
>points yesterday in an up stock market and
>is down another 1 3/8 today.
>
>The economic news this morning showed that
>the U.S economy is still booming with wage
>pressures creeping into the picture.
>
>The bond market has turned negative once
>again. Frank Veneroso noted this morning
>that all the Treasury has to do to fix the
>inverted yield curve bond dealer bad trade
>problem is to announce that they will buy
>back shorter dated notes as well as the 30 year
>Treasury bond.
>
>However, Icarus noted that means that Treasury
>Secretary Summers has to eat crow. The spin
>this morning by the establishment was that the
>President told the dealers that this was coming
>when he announced U.S. debt was to be reducted.
>
>Which will haver precedence here - the ying
>or the yang?
>
>Is it not interesting that the gold market surges
>WHEN THE BULLION DEALERS THAT HAVE BEEN MANIPULATING
>THE GOLD MARKET RUN INTO MARKET PROBLEMS.
>
>COINCIDENCE?????????????????
>
>How obvious can this manipulation be? The question
>now is will they lose control of the market again
>like they did last September.
>
>It is inevitable that they will. Now or later and
>the price of gold will shoot up towards its natural suuply/demand equilibrium price of $600 per ounce.
>
>The oil market has reversed to the upside just now
>and is trading in contract high close ground.
>
>Stay tuned!
>
>
>Le Metropole Cafe
>
>All the best,
>
>Bill Murphy
>Le Patron
>www.LeMetropoleCafe.com
>
>
>
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