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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: goldsheet who wrote (51999)	4/27/2000 5:30:00 PM
From: Alex	Read Replies (2) of 116759

Newmont, which does not hedge aggressively against a low gold price, has seen its earnings suffer more than its North American rivals Barrick Gold and Placer Dome. The company's realised gold price in the quarter was $288 an ounce, down from $293 in the first quarter last year and more than $70 an ounce less than Barrick realised in the quarter as a result of hedging. But most analysts are anticipating a rising gold price in the near future as a result of growing demand, tighter supply, agreed restrictions on central bank gold sales and the likelihood of continued turbulence in stock markets. That would favour unhedged producers such as Newmont. news.ft.com

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