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Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.34

+5.2%

4:00 PM EST

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To: John Hunt who wrote (33744)	5/12/1999 4:24:00 PM
From: donald martin	Read Replies (3) of 116767

Don't get me wrong. If I ran Barrick, I wouldn't have as much production hedged as they do. But.... <<It seems to me the emphasis is more on profiting from a falling gold price and earning interest than on obtaining the best price for the metal ... >> They don't profit at all from more falling gold prices. Once they lock in, there's nothing more to be gained. As far as getting the best price for the metal, TO DATE, they've done that well. BUT, I doubt it'll last too much longer. You gotta love what it's done to their income to date though. Imagine being able to earn interest in 1999 on half of the income you'll earn from 1999 to 2003. The only caveat is, you give up on any raise you might have earned. See what I mean?

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