Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: IngotWeTrust who wrote (13588)	6/20/1998 6:09:00 PM
From: John Mansfield	Read Replies (1) \| Respond to of 116796

MUST READ ON Y2K: exchange2000.com

To: IngotWeTrust who wrote (13588)	6/20/1998 7:04:00 PM
From: Aloysius Q. Finnegan	Read Replies (1) \| Respond to of 116796

Ole 49r, Question if I may? If Japan's reaction to the G7 meeting is perceived as lukewarm, then the reaction on Monday could mean the market is down and the dollar up. Can I presume that in the near term this would push the price of gold down again? I had considered purchasing NEM on Monday. Hard to believe it could go much lower. Paddy

To: IngotWeTrust who wrote (13588)	6/29/1998 9:48:00 AM
From: William JH	Read Replies (2) \| Respond to of 116796

Ole 49er - Back on June 20 I asked your opinion of Homestake buying back a 1mm oz forward sale Plutonic had made prior to their takeover by HM. Someone else posted that it meant nothing because HM does not sell forward. Your answer that <with all the new fangled trading it was hard to tell, but that you would take any encouragement>, seems to be right on. According to their annual report, they have a gold hedging policy for the use of forward sales contracts to hedge up to 30% of each of the following ten year's expected annual gold production. They also sell puts and calls. During 1997 they delivered 535,000 ounces of their Australian gold production into Australian dollar denominated forward gold contracts. From what I read, they seem very active in the futures markets. This information is on pages 29 & 30 of the 1997 annual report. Therefore, I would think that their buying back of 1mm ozs is positive. Regards, WJH