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

To: Rarebird who wrote (65575)	3/13/2001 2:46:58 PM
From: goldsheet	Respond to of 116815

> Why should a gold producer be bullish and remove their hedges when they perceive the fundamentals to still be bearish? One need not be either bullish or bearish to ask "Why should a hedger close out its $335 forward sales when spot gold is $270 ?" I'm sure booking a $70 per ounce capital gain would be nice, if one had a project or acquisition that required the funds, otherwise leave it alone.

To: Rarebird who wrote (65575)	3/13/2001 2:59:39 PM
From: russwinter	Read Replies (1) \| Respond to of 116815

I think these hedgers have contributed to the gold bear market. But, the more important issue now is stock performance. How are they going to get turned around? If gold goes down from here, they lose. If gold goes up from here, they are capped and investors lose again. It's no man's land in these stocks. Why own 'em? Why would anybody own 'em unless you are an expert scalper like Bob? They are in a position right now, today, to correct all past sins. If ABX closed out their book, I would be the first investor in line to jump on shares, as I know full well that they of all the top miners would be a big winner in a gold bull market. That's the point, the need to be a gold play, not an insurance play. Until then, I wish a plague upon their house.