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

To: d:oug who wrote (82034)	2/14/2002 1:16:54 AM
From: Secret_Agent_Man	Respond to of 116779

TRANSLATION: The fastest web-based translation service available. And it's FREE! FreeTranslation.com is an easy-to-use site for rapid translations where you can get the "gist" of foreign language text and web pages. -- Translation Results by SDL International -- Hedging-strategies are disputed Gold price moves the GemŸter of the investors UDO rescue mountain gold branch off. The BegrŸndung: trade sheet, 13.2.2002 FRANKFURT/m. The gold market awakes to new life. The jŸngste price leap on occasionally 310 $ per fine ounce above all on an AnkŸndigung of the sŸdafrikanischen mine giant Anglo gold Ltd to that wasŸckzufŸhren. This clearly want to reduce the volume of the PreissicherungsgeschSfte (the ãHedge Book") further. Some mine companies closed wait themselves this Ma§nahme on, others yet off. In such transactions, mines sell a part its yet in the ground of present gold in advance to procure capital around itself time. These Hedging-GeschSfte run often Ÿber several years away. So certain mines not only the current gold price, it receive itself as a rule also an impact that is in Derivaten in removed delivery appointments as a rule eingepreist. In increasing gold price ksnnen run the mines however under pressure. For it mŸssen either the contract to hsheren costs to thatŸckkaufen or its obligation to the delivery of physical gold come later. If Hedging-strategies designed to short-termed and is located the gold sold in advance yet in the ground, and not delivered will can, mŸssen the mines physical gold at the cash market kaufen. This wŸrde the AufwSrtsbewegung of the prices there verstSrken. Yet ãGoldkSufe of the mines out of Hedging-GeschSften dŸrften scarcely gro§en Einflu§ on the demand habenÒ, says became Peter of Lehman Brothers. Other market users see proves that differently. ãDas Hedging above all in BaissemSrkten to be a sinnvollÒ, says Robert R. McEwen, Vorstandschef of Canada gold corp inc. In the GesprSch with the trade sheet. McEwen counts as a sharp opponent of the gold-Hedgings. It rejected a membership of its firm in the world gold Council Ð of the marketing-organization of the gold branch Ð. The BegrŸndung: its competitors held forced see themselves the gold price through PreissicherungsgeschSfte kŸnstlich on a low level ãSteigt gold further, ksnnten some our rivals, its open TerminverkSufe through purchase of physical gold einzudeckenÒ, says McEwen. Peter Lalor, Chairman of Australia Sons of Gwalia, want to hold exists itself meanwhile at the aggressive price security strategy of the firm. ãEs no doubt on that, there§ the disposition in the gold branch with regard to the Hedging presently SndertÒ, recognized also Lalor. Bad experiences with the Hedging above all Ghanas gold giant made run Ashanti Goldfields and Canada Cambior, that after Fsrderproblemen round two years ago because of an at that time short price climb into bad financial problems waren. At the MSrkten becomes not only Ÿber price security of the gold maker, but rather also the switchboard banks speculated, that as you know Ÿber high gold reserves verfŸgene. Europe banks of issue have Ÿber Hedgingstrategien receipts on this VorrSte obtained. GerŸchte according to what the GoldbestSnde should have been sold several times on appointment, bestSdid not meet itself meanwhile. In the USA, the former Football-pro is formed into a ball Murphy an engaged gold-fan. The chair of the gold Anti-trust Action Committee (Gata) became the Ex-HSndler of raw material-Derivaten Ÿbertragen. This union bezichtigt the US-finance ministry, would unite banks of issue, fŸhrende FinanzhSuser and other finance organizations in the world of the Konspiration. The reproach of the Gata: these institutes hStten economic trend data manipulates and held gold Ð also that the insert of Derivaten Ð kŸnstlich on an unjustified low level. -END_ freetranslation.com