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Gold/Mining/Energy : Gold Price Monitor

GDXJ 109.28

+3.8%

Nov 28 4:00 PM EST

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To: long-gone who wrote (36767)	7/7/1999 8:24:00 AM
From: John Hunt	Read Replies (3) of 116790

Re who's fixing it why, and to get it to move in which direction? Morning Richard, I think the lease rates are being calculated automatically based on US Treasuries rates and inflation rates. I believe the increases are due to the higher treasury rates in recent months ... This would increase the cost of the gold carry, but would not necessarily change the hedge fund's rate of return, as they would get higher rates on their treasury investment. However, rising rates might force some marginal players to lighten their positions. % Lease Profit = (% Treasuries - % Lease Rate) - % Inflation I have also seen lease rates calculated on the libor rate. John

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