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Gold miners cut back global hedge book in second quarter

Posted by ipso facto @ 11:54 on September 24, 2015  

LONDON – Gold mining companies trimmed their outstanding global hedge book by 17 t in the second quarter, an industry report showed on Thursday, as two of last year’s biggest hedgers, Fresnillo and Polyus Gold, closed out positions. In their quarterly Global Hedge Book Analysis, Societe Generale and GFMS analysts at Thomson Reuters said the global producer hedge book stood at 177 t at the end of June, down 9% from the quarter before.

more http://www.miningweekly.com/article/gold-miners-cut-back-global-hedge-book-in-second-quarter-2015-09-24

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.