I only did the sums in my head on the POG's Friday's closes. The five day relining was in Jan when POG was low, there are other factors, but I got av POG at about $1620. So together with initial hadge of $1584 (?) and unhedged about 1620 and new hedge at 1600, made all price a touch over $1600, if the gold was sold evenly on a Friday, (which it wasn't). So on these figures the new hedge was very slightly negative, maybe $6/oz, or about $50k for the qtr all up.
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