Ann: Successful Pricing of US$550M Debt via US Private Placement, page-11

Gold isnt a standard commodity. It is a hedge against inflation, and given the money printing still going on the world over, I think AU has a solid future for the next 5 years atleast. My point is that you have USD debt and USD revenue. Why pay the spread on a currency hedge?. You may have bought an AUD asset with the money, but you still dont need to hedge the principal. The net result is that you pay a spread to the investment banks in and out of your hedge on something that is a balance sheet item.....If anything the Gold price should be hedged, not the currency