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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (36014)	6/27/1999 8:20:00 PM
From: Enigma	Read Replies (1) \| Respond to of 116753

You're right I guess - what I meant is that the company sells a contract on the futures market - so in sense is 'short' even though they put up reserves as collateral. When the contract is due - or before they buy back the contract and the physical gold is sold into the spot market. This is the essense of it - but as someone posted here or on the Barrick thread the mechanics may differ. What I was saying to Alan that it is not correct to describe Barrick as a short seller - it is a hedger.