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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: butkus who wrote (22193)	10/24/1998 11:10:00 AM
From: Oak Tree	Read Replies (3) of 116758

butkus, thanks that makes things more clear. Just to be sure I understand. ABX is selling $425 futures -- these are options not actual gold purchases. Hence if gold doesn't go up, ABX pockets the option premium. If POG does go up, the option can be exercised at $425 so ABX may have sold cheap gold (but clearly not so cheap). WOW. So some people are willing to bet (I mean gamble since they are buying options) gold goes up well over $425/oz in the not so distant future.

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