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

To: Ken Benes who wrote (37797)	7/26/1999 10:11:00 AM
From: Enigma	Respond to of 116762

Is NEM new to the hedging business? If not, then I can see that they, like ABX, will hedge consistently irrespective of the POG. Why? Because it takes the price variable out of the equation. The number of ounces sold forward in this manner is not influential on the market - because hedging has been a fact of life for years and is built into the market. So if NEM puts on a new hedge position is is lifting a previous position. Unless it is hedging additional ounces for a development project. d

To: Ken Benes who wrote (37797)	7/26/1999 10:51:00 AM
From: long-gone	Read Replies (2) \| Respond to of 116762

<<Any wonder the price of gold is so low and what are the prospects of a rally. With NEM hedging at a 20 year low, whatever supply has been taken out of the market by closing mines, it has been replaced. It is not about manipulation by bankers, but rather the lack of sophistication by the producers and their lead me to the water mentality that has doomed the gold price.>> Ken, I can't figure why you are looking at it only one way. Yes, NEM said they were going to start hedging, did they say anything concerning direction?