GOLD 0.51% $1,391.7 gold futures

Funny how everyone blames everyone else. Like the Fed for the...

  1. 4,485 Posts.
    Funny how everyone blames everyone else.
    Like the Fed for the drop in the POG etc.
    Typically a mine gets closed because its either run out of gold or is uneconomic.
    Yes I agree hedging forced gold considerably lower than it would have gone & pushed unhedged mines out of production. But blame the hedgers not the bean counters!
    The gold industry failed itself.
    Look at what happened with Gwalia, it was a disgrace.
    I have always said if the gold producers return to wholesale hedging then I am out because gold will go a lot lower. Luckily that has happened & lets hope it doesn't.
 
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