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

To: goldsheet who wrote (41307)	9/28/1999 1:02:00 PM
From: The Devil Dog	Read Replies (3) \| Respond to of 116762

I dont trade gold much , usually only hop on a stock when there is momo, and that post was a very nice observation. I was wondering about that comparison, just no real time figure it out. I sold some positions this morning and am just waiting to see if there is gonna be a late day pull back before buying back in. Which gold plays are the favorite of this thread? Thanks Best Regards WB

To: goldsheet who wrote (41307)	9/28/1999 1:02:00 PM
From: Lightning	Read Replies (2) \| Respond to of 116762

Could be because ABX, a big piece of XAU, is hedged against three years of production (if memory serves correctly). In other words, Barrick has already locked in the prices they will receive for next 9 million ounces produced. This further implies that they gave up the $450 million profit they could have reaped by closing out their hedge book at the August lows. NEM in similar position as they sold calls to buy puts, i.e. they bought some down-side protection but gave up any increase in gold price above the strike prices of calls sold. Last observation is that some gold bugs may be selling the majors in order to buy the juniors, which have moved strongly yesterday and today but are not represented heavily in the XAU.