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

To: Alex who wrote (7513)	2/12/1998 3:30:00 PM
From: Bobby Yellin	Read Replies (1) \| Respond to of 116984

thanks Alex eom (he knows more than most)

To: Alex who wrote (7513)	2/12/1998 4:24:00 PM
From: Sean Beingessner	Read Replies (2) \| Respond to of 116984

If Peter Munk feels the price of gold is going to go up, why doesn't he sell off the Barrick hedge position? The forward hedging of Barrick must cause something on the same order of magnitude of gold being borrowed and sold as the gold sold by some of the central banks. For every ounce he has sold forward there must be an ounce borrowed and sold to cover it, somewhere in the chain. I do not know and would be glad to be corrected, but wouldn't that mean Barrick's hedging has caused more gold to be sold then the Australian central bank sold last year. I do not know the numbers, though. But if that is so, then to collapse the hedge, would require, somewhere in the chain that much gold being bought back. Opinions? Sean