22.07.2013 - The return of the great gold hedge |
In 2012 gold producers cut their hedging activity to the lowest level since research firm GFMS and investment bank Societe General began tracking the data a decade ago. After falling 21% in the final quarter of 2012, the outstanding producer hedge book now stands at a mere 3.95 million ounces, or 123 tonnes, a far cry from levels of as much as 3,000 tonnes seen before gold began its 12-year upward climb...............................................Full Article: Source |