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

To: Ken Benes who wrote (48672)	2/9/2000 10:01:00 AM
From: Enigma	Respond to of 116922

Well you're learning - but try reading lessons! It might be a help in answering the questions which you consistently duck. BTW how's that stock I asked you about? As a mining executvie did you ever change course or did you stay stuck on the same path forever?

To: Ken Benes who wrote (48672)	2/9/2000 4:54:00 PM
From: lorne	Respond to of 116922

Ken. Not sure why this post is strung out or why URL is not highlighted. GOLD: Staying afloat Can mining companies keep bullion prices high by scaling back their hedging activities? Paul Solman reports " Producer hedging accounted for 445 tonnes, or more than 10 per cent of gold supplied to the market last year, according to Gold Fields Mineral Services (GFMS), a London-based mining research group." " Over the last decade, that amounts to about 3,000 tonnes of physical gold that has been sold on to the market to finance hedge positions, out of a total supply of some 22,000 tonnes." "By closing or reducing their hedging operations, these companies are improving the demand and supply balance further. The price has gone up largely because players in the gold market correctly interpret this rethink on hedging to mean . . . higher prices." " A clue to the likely success of the anti-hedging strategy may lie in gold's history, according to Andy Smith of Mitsui. Four years ago, Barrick announced it had cut its hedge book by a third, or 90 tonnes, prompting gold prices to rise above $410." Full story >>> ft.com€êA$Pq€iïøêluµ@“Pq â