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Gold/Mining/Energy : Gold Price Monitor
GDXJ 147.42+2.2%Jan 27 4:00 PM EST
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To: Moominoid who wrote (75167)8/17/2001 8:48:58 AM
From: russwinter  Read Replies (3) of 116927
 
I see Aussie strength as very bullish for POG, more so than about any other currency. Really puts mark to market and delta hedge pressure on the heavily hedged (short BOTH Aussie and gold, double whammy) Aussie producers. Many of them have sold 4 to 7 years production, and the longer the dates, the more the black box formulas requires them to purchase offsetting gold = STRESS.
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