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

To: IngotWeTrust who wrote (90586)	10/15/2002 3:22:07 PM
From: Real Man	Read Replies (1) \| Respond to of 116811

I meant that, instead of covering forwards, they can hedge their short forwards by entering long futures, and, assuming that gold goes up, they will also then have the benefit of having increased cash position. Since JPM seems to work in the futures pit mostly to control gold price, this will put an upward pressure on POG. Disparity between the fact that the producers are covering hedges, while the "commercials" (bullion banks in the futures pit) are selling is intriguing. I can only explain it by the desire of bullion banks to control gold price. On the other hand, entering long 3000 tons worth of gold in the futures pit will effectively cover the hedgers and blow the gold price through the roof...