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

To: butkus who wrote (22193)	10/23/1998 1:47:00 PM
From: gmccon	Read Replies (3) \| Respond to of 116756

Thanks, But I'm still stuck on Barrick getting $425 for an ounce of gold while the spot price $293. Are the buyers betting that gold will be $450 when the time comes? More important, isn't that bullish? Again, thanks for the help.

To: butkus who wrote (22193)	10/24/1998 11:10:00 AM
From: Oak Tree	Read Replies (3) \| Respond to of 116756

butkus, thanks that makes things more clear. Just to be sure I understand. ABX is selling $425 futures -- these are options not actual gold purchases. Hence if gold doesn't go up, ABX pockets the option premium. If POG does go up, the option can be exercised at $425 so ABX may have sold cheap gold (but clearly not so cheap). WOW. So some people are willing to bet (I mean gamble since they are buying options) gold goes up well over $425/oz in the not so distant future.