Barrick Gold (ABX) Message Board

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Gold/Mining/Energy : Barrick Gold (ABX)

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To: russet who wrote (3002)	5/22/2002 6:00:24 AM
From: nickel61	of 3558

The one point that is very significant to notice is that from the analysis of the derivative gold market that has been presented here, it is clear that the total gold producer hedges, that is every producer hedge world wide, is only 11% of the total gold derivative hedges outstanding, THIS MEANS THAT there are many more much larger postitons out there that are rapidly being closed by naked shorts who must go to the spot market to close or find actual gold from a naive physical holder to deliver into their shorts. Idiot coin sellers like Blanchard have been advertising to take gold coins off peoples hands so maybe this has been in process for some while, but it is important to appreciate the size of the short position if all of the world's gold producers hedges put together are only slightly more then one tenth of the total. The wave is coming.

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