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

To: Ken Benes who wrote (71654)	6/13/2001 10:23:43 AM
From: long-gone	Read Replies (2) \| Respond to of 116791

Can't your limited abilities even imagine that lease rates are dropping because miners are no longer offering a demand but demand for clearly owned gold is not dropping? Higher Pricing in anything requires both sides of the equation supply & demand. If demand for leasing drops so does price even if supply remains the same.

To: Ken Benes who wrote (71654)	6/13/2001 1:15:35 PM
From: marek_wojna	Read Replies (2) \| Respond to of 116791

From technical point of view you might be right, Richard has a good point too. Do you think CB's will continue selling if gold breaks $300 and able to stay?

To: Ken Benes who wrote (71654)	6/14/2001 12:52:25 PM
From: long-gone	Respond to of 116791

Still showing how little you know?

To: Ken Benes who wrote (71654)	6/15/2001 10:40:05 AM
From: long-gone	Respond to of 116791

Hey know it all, I thought you said hedge postiion would be increased? >S. African gold producers ratcheting back hedges By: David McKay Posted: 06/14/2001 07:00:00 PM \| © Miningweb 1997-2001 JOHANNESBURG – South African gold producers are expected to have reduced their hedged positions in the June quarter, analysts say, taking advantage of gold's new trading range of between $265 and $275 per ounce. In addition, the outlook is of less hedging for the remainder of the year, with expectations of US interest rates falling in both July (possibly by 25 basis points) and again in August. This will make the gold contango even less attractive to hedgers. - Durban Roodepoort Deep [JSE:DUR] says it will have delivered into 150'000 ounces of hedging in the June quarter, leaving its total committed ounces at 771'000 ounces and some 857'000 ounces protected. AngloGold [JSE:AGL], which closed out 800'000 ounces in the March quarter (but added two million ounces from its Geita joint venture with Ashanti Goldfields), is also likely to have been in the market, trying to free up greater portions of production to the spot price, analysts say. Marketing director Kelvin Williams says hedging has been used by AngloGold in the past to secure revenue. But he adds that the appeal of revenue protection is certainly lower. This is because the downside risk is not as great as previously. Figures at March 31 show that South Africa had total hedged positions worth $248.4 million compared to $1.6 billion by North American producers, and a negative $999 million by Australian gold producers. In total, the value of the hedged positions of the world's gold producers was $604 million (see table) by 31 March. m1.mny.co.za