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Gold/Mining/Energy : Gold Price Monitor
GDXJ 126.27+3.5%Jan 12 4:00 PM EST
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To: russwinter who wrote (48075)2/5/2000 11:27:00 AM
From: Ken Benes  Read Replies (1) of 116852
 
"Then how will the gold be delivered on the contracts?"

Should a company go bust, the gold in the ground will still exist as will the producing infrastructure. Expect the defunct companies assets to be purchased by a more solvent producer. Along with the facilities will go the claim against the inground gold by the bullion bank on the other side of the trade. The banker rarely loses unless the derivatives built up and around a trade implode.

Ken
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