Barrick Gold (ABX) Message Board

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Gold/Mining/Energy : Barrick Gold (ABX)

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To: nickel61 who wrote (2831)	5/18/2002 10:01:28 AM
From: loantech	Read Replies (2) of 3558

nickel61, What I know about hedging is laughable. I guess if you need to hedge your corn crop at a relevant price to protect against storm damage or a bumper crop that is one thing. But this constant selling of gold hedges way above market price does not make sense. Someone has to be losing money unless Barrick is selling their gold to fabricators who market all the finished product way above spot prices. But then why would the fabricators pay so much more for a product that has fallen in price or remained stable at or around $300.0 + or - for so long. Kind of like a lumber company always buying at $150.00 a thousand board feet over the finished product cost. Whole situation does not make rational sense. Compare the stock price of Barrick to its peers and anyone can see something stinks. There you go shows how little I know again.

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