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Gold/Mining/Energy : Gold Price Monitor
GDXJ 144.21-0.6%Jan 26 4:00 PM EST

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To: Lightning who wrote (43366)10/19/1999 10:43:00 PM
From: goldsheet  Read Replies (1) of 116922
 
> Appears to me that the hedged gold miners are out-performing those that are un-/under-hedged

Correct.

I did an analysis recently that showed there wasn't too much difference from 1994 to the August 1998 low at $275.

From the August 1998 low to the August 1999 low ($255), the hedged miners did better than the unhedged.
This explains why XAU bottomed at 56.44 in 1999 versus 48.89 in 1998.

Since August 1999, the unhedged have done better than hedged
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