Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: long-gone who wrote (54169)	6/13/2000 11:36:00 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 116759

See, even you can see the truth if you wish. I said REDUCED! No you did not. I suggest you go back and read your string of posts. You stated that the gold industry has taken steps to reduce their hedges and never agreed or disagreed with that. What I disagreed with was your following statement about Ashanti: Have you forgotten the rally that destroyed the short position of Ashanti? My my my what a poor memory. The spike in gold did not "destroy" their short (hedged) position in gold. The bullion banks merely restructured the loan the same way the World Bank might restructure the national debt of a developing nation. So what will happen in the event of another spike in the POG, we'll not only see Ashanti suffer again, but also the Australian miners who have 1,500 tons hedged forward. I wonder how the Central Banks will respond to the Australian all-ordinaries index being pummeled by a spike in gold? Might they opt to lease/sell more gold to maintain a lid on the gold market? Something to think about as you plot and scheme fratricide within the world gold industry. Regards, Ron