Ontex Resources (ONT Alberta) Message Board

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Gold/Mining/Energy : Ontex Resources (ONT Alberta)

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To: robbwharry who wrote (509)	12/24/2001 10:25:11 PM
From: mark warburton	of 519

I am not so sure that hedging will end, but I do believe the low interest rate environment makes the gold carry trade a very precarious business to be in. When you subtract the borrowing costs and add in the risk factor, the game isn't worth playing anymore. If these positions are unwound for there intrinsic value, gold will be free to move, and if they are not unwound, larger positions will be needed to defend their initial positions. We will see. Best wishes for everyone over the holidays.

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