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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: DebtBomb who wrote (64324)	5/8/2002 9:42:31 PM
From: t2	Read Replies (2) \| Respond to of 99280

Barrick cuts gold hedge position by 3 mln ounces This story got brushed aside totally by the market. Did cause in an intraday pop in the Gold price but later sold off probably due to strong equities and dollar. This is the most conservatively managed gold producers finally saying that may be hedging is no longer a great idea...although good during price declines. They probably recognize we are in the early stages of a bull market for Gold. I see it as a confirmation of a new bull market in the metal when ABX takes such steps; they made great calls on the decline in price of gold in the 1990s. Many other companies are doing the same thing now. A somewhat bearish comment on corporate bonds in that article. "It would no longer invest a portion of spot-deferred contracts in corporate bond funds." biz.yahoo.com