gold hedge book closed out, page-10

Hey Bacchus

Possibly, but I wouldn't bet on it. They will have no additional information than we do, and if they have made a risk decision to exit the stock from an institutional point of view they would still have an exit in hand.

They may however see the upwards sentiment as an opportunity to exit at a higher level - they have not been in a massive rush to exit and can do so over a longer period of time.

If news of a farm in is confirmed, perhaps they would revisit their exit strategy then?

Small parcels being bought up is good, but as I said more large parcels not being sold down is more impressive.

Cheers