Miners like NST and SLR probably wish they had hedged and even more so for low profit margin operators like Norton gold fields. Miners hedged and with low OPEX per oz like PGI and DRM are not being recoginised for their forward insured earnings. As POG goes down 10% in value cut off grades have probably gone up 30% so miners effective mine reserves in tonnage and ozs dropped off the planet in the last 24hours.
I still hold around 26% of portfolio in gold equities plus have cash.
