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

To: Enigma who wrote (36074)	6/28/1999 6:47:00 PM
From: John Hunt	Read Replies (3) \| Respond to of 116752

Will anyone read it - or are we dealing with rigidly fixed minds? << Could Barrick lose money on its hedge program? No, because all its hedge contracts are at prices in excess of the cost of production. Barrick could have an opportunity cost if the spot price of gold consistently exceeded the rising price of our contracts for the next 10 years. However, this is unlikely. Gold has never consistently risen in price and stayed there. It is a volatile commodity. >> DD, Yes, we read it ... did you? The last firm I remember that had a 'hedging program' that couldn't lose was LTCM. If gold has fallen for 20 years, why can it not rise for 10 years? In any case, all will be revealed in the fullness of time. John