Dutch Central Bank Sale Announcement Imminent? Message Board

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Politics : Dutch Central Bank Sale Announcement Imminent?

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To: sea_urchin who wrote (7568)	9/2/1999 12:01:00 AM
From: Greg Ford	Read Replies (1) of 81234

Where do you get 10 to 14 thousand tonnes. Goldfields Mineral Services estimates CB lending to be about 4,000 tonnes. Even with all the hedging in 1999 it would be a stretch to get to 6000 tonnes. The delivery risk only exists if the price of gold continues to go lower. If the price goes lower then some mines might shut down and thereby close out hedges. If the price moves higher the viability of most companies is improved. It would only be affected if their hedging is below the new spot price and they have committed an excess supply of their current production. Greg

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