future price of gold, page-44

Uranium is hedged aswell....by the use of long term off take agreements on price.

As far as gold being stashed ready to sell, you have to convince me first that the a) population growth and b) growth of the middle class in Asia are in the market to stash and then sell. My reading of most of the buying habits of the new "relatively" wealthy class in Asia, are that they are, now for the first time ever, able to buy something that was previously unaffordable to them. Why would they then want to sell it? Its a bit like tellies, cars, houses etc. Gold is now on the "must have" list, for those with aspirational tendencies.