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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: sea_urchin who wrote (8083)	10/6/1999 9:19:00 PM
From: philv	Read Replies (2) \| Respond to of 81023

Searle: The reason many gold shares are suspect is because of their hedged position, Cambior as previously mentioned a big loser. These bullion banks (gold buyers), sucked the producers into forward hedging positions, and now that gold has advanced beyond their hedged price, the producers lose again. Cambior's hedge price is quite low compared and recently negotiated compared to say ABX, and they are being punished severely now. The unhedged producers will rightfully benefit from the increase in the POG. Funny though, how a little announcement from the European CBs regarding sales and leasing can instantly lift the POG, eh? Or is it just my imagination? So, the question is as always, who actually controls the POG? Never the producers or the cost of production for sure. biz.yahoo.com