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

To: C Hudson who wrote (47970)	2/4/2000 2:20:00 PM
From: Quickdraw	Respond to of 116815

biz.yahoo.com VANCOUVER, Feb. 4 /CNW-PRN/ - Placer Dome Inc. announced today that it is suspending its hedging activities in expectation of improving gold market sentiment and reduced producer hedging. According to Placer Dome President Jay Taylor, the gold producers need to rethink their current hedging policies. ''We believe that gold prices will move higher. The agreement by European central banks to limit their sales and lending was an important first step towards improving gold market sentiment, but industry needs to do its part. We acknowledge that producer hedging is an important factor,'' Taylor explained. ''So as of today, the Company has ceased adding any new hedge positions. As a result, we expect to see our hedge book reduced by at least two million ounces of gold by the end of this year,'' he said. The Corporation's balanced hedging program allowed it to realize an average $480 per ounce on its gold forward sales during 1999. The average price realized on all of the Company's gold production was $341 per ounce, or $62/oz over the spot price. During the fourth quarter of 1999, the Company added to its hedge position as the gold price rallied to two-year highs. Hedged production at December 31, 1999 was comprised of 7.4 million ounces in forward sales and 2.5 million ounces in call options at expected prices in excess of $400 per ounce with an aggregate positive mark-to-market value of $350 million. Approximately 85% of the Company's reserves remain unhedged. The details of the Corporation's hedging position will be released with the Company's year-end results on February 24, 2000. ''We have a very successful hedge program, however, we believe it is time to adjust our approach,'' Taylor said. ''We will continue to manage our existing positions, but we want to be clear about the need for the industry to show leadership and confidence in gold.''

To: C Hudson who wrote (47970)	2/4/2000 2:22:00 PM
From: Brad Bolen	Read Replies (1) \| Respond to of 116815

Someone posted a nice URL a while back that showed a Tick by Tick view of some futures. (It wasn't Kitco) Could anyone post a link to a chart for tick by tick gold prices that isn't kitco? Thanks. B. Goldbug to Goldfinger...Goldbug to Goldfinger............