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Mix-Ansicht- XAU: noch besteht Hoffnung (lesenswertes Posting engl., GG-Board, Yahoo) - netrader, 07.08.2002, 20:02
XAU: noch besteht Hoffnung (lesenswertes Posting engl., GG-Board, Yahoo)
Why XAU will pop up at end of day
by: gold_cap_killer 08/07/02 01:22 pm
Msg: 14319 of 14320
With the gold price up some 8.00 and the XAU only slightly improved, many gold investors might be perplexed.
However the relationship between the gold price and XAU is becoming more and more apparent to astute investors.
Essentially the gold short commercial players have created a hedge position, specifically a very heavy physical gold short position against a huge gold long position in XAU stocks.
When the commercials move to cover their physical gold short position (as they are doing today), then they often sell XAU stocks, utilizing their XAU profits to provide capital for covering their physical gold short.
Then the weakness in the XAU creates concern amongst small spec owners of gold stocks, who often capitulate or sell their XAU stocks out of fear that there is no relationship between surging gold price and XAU stocks anymore.
Usually at day's end, the commercials then move into the market and scoop up XAU stocks disgorged by weak hand specs, and in doing so the commercials maintain their physical gold short/long gold stock hedge positions.
Do NOT be shaken out by the commercial players. At some point in time, massive new inflows of"flight to safey monies" will overwhelm any future disgorgements of XAU stocks by commercial players - and the XAU will move into complete verticality that will make the extreme internet mania of the late Nineties seem like"a slow walk in the park."
Gruesse
netrader
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