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Gold/Mining/Energy : Gold Price Monitor

GDXJ 93.43

-4.5%

Nov 20 4:00 PM EST

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To: mick who wrote (27293)	1/29/1999 3:28:00 PM
From: Hawkmoon	Read Replies (1) of 116764

Wait a minute... Are you talking about someone buying gold at $400/ounce of their free will, or the fact that this gold was "put" to them at that agreed on strike price. Hedging means that these companies buy the RIGHT to put their gold to a buyer at a certain price. These companies are exercizing their right to sell at $400/ounce. I'm sure the buyer isn't happy about the bath he is taking, but maybe he was hedged in another way. This is no indicator, IMO, that there is a shortage of gold. It is an indicator of a savvy mining company selling off their gold assets at a price well above market. Tell me where I'm wrong in this. Regards, Ron

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