Gold hedging in Q4 2005 reduced by only 0.7 million ounces
Gold hedging in Q4 2005 reduced by only 0.7 million ounces By Jon Nones 23 Feb 2006 at 12:45 PM
Dehedging in Q4 2005 was a small 0.7 million ounces. Sizeable reductions by large companies were partly offset by a pickup in the number of companies adding to their hedge positions, according to the quarterly The Hedge Book by Virtual Metals/ Haliburton.
“Barrick and Placer Dome, in their last quarter as separate companies, reduced their hedge positions by 0.4 Moz and 0.5 Moz respectively. Newcrest in Australia reduced their hedge position by 0.4 Moz.
“However in three of our regions, Australia, Africa and Eurasia hedging actually increased over the quarter, up 0.1 Moz, 0.2 Moz and 0.3 Moz respectively. This was mainly due to a large number of companies adding to their hedge positions.”
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