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Gold/Mining/Energy : Barrick Gold (ABX)
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To: Scripts who wrote (697)9/6/1998 2:15:00 AM
From: Zardoz  Read Replies (4) of 3558
 
"A very reliable source has told me that American Barrick are within days of making a decision to unwind their entire hedging program.."

More likely this: A brokerage house or hedge fund that owns the most reciepts puts out that rumour, because they want to dump there receipt shares at the closest break even point possible. And that the sold the dollar, bought yen, to pump out all of the reciepts. Look at it this way, would you want to be in Japan in the next few months. YEN overvalued, Gold over bought. Barrick Well let's get real... they can unwind whatever they want... But gold can only go up in a DEFLATION state, if Fed lowers, so will GOLD.

PS: But thanks for posting it here.
Rumours are worth nothing. I've heard better.
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