management making gross errors, page-9

I think some hedging is actually sensible, especially if you can hedge it very soon. All this stuff about the POG going to $2000 is just dreamland. The POG is linked very very strongly to the US dollar, and pretty soon that is gonna STOP falling, as the US economy turns around (and it will). Then hear the wailing from shareholders as they lament the lack of hedged gold in the larder. My opinion is that Au will retrace sooner rather than later.....the steepness of the current trend is the harbinger of a coming sharp fall. Metal prices DON't keep going up forever, at least, not like that. Look at Nickel. We all thought it might keep rising, but at 60000 it gave up the ghost and sank to less than half that. This WILL happen to Au, and it will retrace to some extent before returning upwards. The majic for Management is picking when, and hedging some production before the fall....isn't it?