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Gold/Mining/Energy : Barrick Gold (ABX)
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To: FuzzFace who wrote (2635)5/12/2002 7:22:41 AM
From: nickel61   of 3558
 
Your statement pretty much sums up the entire arguement. It has been a good strategy for a declining gold price. Witness the fifteen year chart of performance. But is a losing strategy for a rising gold price witness the market performance of Barrick over the last three years. If those of us who think gold has been held down by over hedging are correct then the snap back in gold to a more "normal" price range should bury the Barrick hedge book unless they can cover before it happens. As tyke has pointed out they may not be doing that fast enough.
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