re: Ann: APPROVAL RECEIVED FOR BULLANT CRUSHI......

re: Ann: APPROVAL RECEIVED FOR BULLANT CRUSHI...
http://www.smh.com.au/business/markets/gold-rallies-on-iran-tension-20120104-1pjzp.html

Fear factor they call it in the article.
Anyway, futures for February delivery were changing hands for over $1600 yesterday.

One way a gold producer can assure his profit, selling his estimated production forward for a price that pays for his cost of production and some profit, then he can sleep at night and does not have to read the papers or worry about price falling and on the settlement day deliver the ounces and collect the cash.

During the gold boom in late seventies, one sure way to make a good return was cash and carry, where the investor bought the physical gold and sold for a delivery six months latter.

From memory, you could make 10% or more, but those days are gone, there is only a percent or two difference between physical and future prices.