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

To: The Barracuda™ who wrote (43789)	10/25/1999 12:06:00 PM
From: Ken Benes	Respond to of 116756

Happiness, gold falls below 300.00. The producers can stop sweating, their hedges are safe. Champagne and caviar for the producers and bullion bankers tonight. Ken

To: The Barracuda™ who wrote (43789)	10/25/1999 2:35:00 PM
From: The Barracuda™	Respond to of 116756

Description Last Change Percent Change Japanese Yen 0.9562 +0.0057 +0.6 % British Pound 1.6634 +0.0062 +0.37 % Australian Dollar 0.6515 +0.0022 +0.34 % Canadian Dollar 0.6794 +0.0016 +0.24 % Swiss Franc 0.6707 +0.0001 +0.01 % Deutsche Mark 0.547 -0.0004 -0.07 % Dollar Index 98.16 -0.15 -0.15 %

To: The Barracuda™ who wrote (43789)	10/26/1999 5:43:00 PM
From: Rob Hinton	Read Replies (2) \| Respond to of 116756

Could someone help a neophyte on this: "Even lite hedgers, like Newmont, could have problems. They're short 2.35 million oz in calls at around 375 ( put on at the low and it's cost them $60 million so far ). If gold rockets to 600, their assets and reserves and daily earnings will rise - but they should have a margin call for $500 million on the calls." How do these calls work? Is this the case where a gold call is not the same as a stock call? For ex: I own 100 shares of xyz (at $50) and sell a $60 call. If the stock explodes upward to $75 I don't get a margin call. I will lose the stock (as it is called away) but I get the $60 share price plus the premium I collected when I sold the call. The only "loss" I have is the inability to participate in the appreciation above the $60 strike price. Assuming I paid $50 for the stock I still walk away with $10 + premium - hardly a "loss." Would appreciate any help someone might have on this. Thanks! Rob