Dutch Central Bank Sale Announcement Imminent? Message Board

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Politics : Dutch Central Bank Sale Announcement Imminent?

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To: Hawkmoon who wrote (8090)	10/7/1999 6:20:00 PM
From: GVC	Read Replies (2) of 81092

from WSJ: "...But now with gold soaring, the prospect that spot prices will rise above Barrick's hedge price is increasing. Currently, Barrick says it has sold forward about 13.3 million ounces of gold at an average price of about $385 per ounce through 2001. However, if the spot price does rise above $385, Mr. Sokalsky said Barrick has the luxury of deferring its forward contracts for as long as 15 years and instead selling its gold production at the spot price. That means the company can wait for spot prices to return to lower levels before returning its borrowed gold to the central banks"

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