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

To: Ken Benes who wrote (44203)	10/28/1999 11:38:00 AM
From: SwampDogg	Read Replies (1) \| Respond to of 116764

The action in the XAU is due to hedging concerns. Unhedged producers are doing very well.

To: Ken Benes who wrote (44203)	10/28/1999 11:47:00 AM
From: Alex	Read Replies (2) \| Respond to of 116764

<<"With the Australian producer buyback it shows that there are going to be other producers buying back in the very near future, which makes the Ashanti situation very nerve wracking for them and their creditors," said Carlos Perez-Santalla of Hudson River Futures. Reminiscent of the reprieves granted to Ashanti on options margin calls by its creditors, Canada's Cambior Inc. said on Thursday it entered a standstill agreement with its hedge counterparties, deferring gold delivery obligations until November 26. South Africa's Gold Fields Ltd, the world's second largest producer, said Thursday that it incurred a 48.5 million rand post-tax loss from a hedge repurchase program, contributing to weaker earning for the September quarter. The company last week completed the buyback of a 1.6 million ounces of forward sale commitments, call obligations and underlying rand/U.S. dollar commitments. >> uk.news.yahoo.com