The average price for all the hedged gold works out at $US1,228.
If we were to assume that unhedged gold can be sold at spot for an average of $1,300 per oz the average price for all gold produced in the next year would be in the vicinity of $1,267 – a healthy jump from the $1,070 or so where they have been of late. OIMO
PGI, page-43
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