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Gold/Mining/Energy : Gold Price Monitor

GDXJ 101.44

+3.5%

Nov 12 4:00 PM EST

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To: long-gone who wrote (88688)	8/11/2002 12:56:32 PM
From: IngotWeTrust	Read Replies (1) of 116756

I'm not sure that is what I said. What I believe is this: I believe that producers will re-hedge on any significant spike in the price of gold above the $332 level. They'd be foolish not to. And I also believe it will be "Katy, BAR the DOOR" if there is any action that would take PoG to the $421 level, London PM fix...they'd be INSANE not to do so. Hedging is a part of producer SOP, just like it is a part of commercial fabricator SOP. Hedging will always be with us. I also believe one also needs to remember that the CHUNNNNNK of BIG PRODUCER HEDGES were placed in the OTC market, both London and NYMEX over 8 years ago. Care to go back and remind yourself what PoG was back eight years ago? Your turn<g> g_t

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