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Gold/Mining/Energy : Barrick Gold (ABX)
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To: tyc:> who wrote (2825)5/18/2002 9:43:40 AM
From: nickel61  Read Replies (1) of 3558
 
Put quite simply the Barrick hedge book alone represents 18 million ounces of future spot market buying pressure. Either direcly in an attempt to cover the hedges in the spot market or by withdrawing that amount of gold from the future spot deliveries. Multiply that number by the other brain dead hedgers like Placer Dome, Ashanti, and the Austrailian nut case gold miners and you have a very powerful market dynamics that can be exploited by those who understand it.
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