Gold Price Monitor Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Hawkmoon who wrote (54259)	6/14/2000 12:56:00 AM
From: long-gone	Read Replies (1) of 116762

exactly what about the word "SUSPENDING" don't you understand? your exact quote - <I see you're unwilling, or unable, to provide any concrete examples that describe how the gold mining industry as a whole have ceased undercutting the market for the metal through derivatives and hedging.> Note the words mid 1999 "INTERVIEW-AngloGold continues to wind down hedging By Belinda Goldsmith CANBERRA, March 16 (Reuters) - The world's biggest gold miner, South Africa's AngloGold Ltd , said on Thursday it would continue to unravel its gold hedge book in a bid to further unshackle world bullion prices. Chief Executive Bobby Godsell said AngloGold had changed its hedging programme as an instruments of risk management in mid-1999 on a bet that at $250 an ounce gold was oversold and ready to rocket." and from later on "Canada's Placer Dome Inc (Toronto:PDG.TO - news), the world's fifth largest gold miner, announced it was suspending its hedging programme in February. This triggered a rise in the spot gold to $319." BTW AG said that statement was taken out of context, & did not dictate anything which would occur, only what might happen. Haven't you heard about the NY accord?

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next