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SP I think some companies take out hedging due to their uncertainty of where the gold price is going, it seems as though some shareholders seem to know that the gold price is going up and yet some directors of companies have no idea about where the gold price is going. I think the gold price is going up but then again what would I know, just because the world is in an economic mess with money printing end debt everywhere does not necessarily mean that the US fed will let the POG skyrocket, if they can help it. The question is "Can they keep the gold price down and the USD up, I dont think so" but everybody is welcome to an opinion and the correct opinion will make you lots of money! Good Luck to the Gold Bulls!!!