Isn't it working in their favour at present?
They said they expected the gold price to go up and then would look to specify.
In fact what they said about hedging was that fund managers wanted to be open to the gold price ( and presumably leverage profits). That's actually what's happening . despite the huge amount of complaint about paying too much, which presumed a weak gold price and gave little credence to a rapidly strengthening one. s far as I'm concerned they got it right or at least have been right to date.
Still I acknowledge I'm in the minority and have to bow to my betters.
Ann: BofA Global Metals,Mining and Steel Conference Presentation, page-4
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$4.21 |
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