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

To: Enigma who wrote (81891)	2/11/2002 8:27:46 PM
From: t2	Respond to of 116764

cbs.marketwatch.com Good article. The interview is at the bottom. Like these quotes from the CEO interview (GOLD Fields). Chris Thompson: We are actually about one year into a new gold cycle. Look at the charts. They usually last three years or so. So there's much more to come. Load up and enjoy! Chris Thompson: The contango is now so low the profitability is out of hedging. It does not mean people will not hedge, especially if gold gets up in the $350 or $400 range. But the Aussies have already hedged nearly all their reserves and have little left to sell. Barrick, Anglogold, and so on, still have some reserves. But again, in a fast rising-price scenario, in which Anglogold, Barrick plus the Aussies all have very off-side hedge positions, I see the bullion banks being reluctant to provide them more credit. All in all there is unlikely to be much more hedging.