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Home>GoldWire>Miners' gold forward sales surged 103 tonnes last year, most since 1999

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Miners' gold forward sales surged 103 tonnes last year, most since 1999

IMG Auteur

Chris Powell

GATA

Published : March 29th, 2015

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	The volume of gold sold forward by mining companies rose by 103 tonnes last year, the biggest annual increase since 1999, an industry report showed on Friday. That far outstrips an estimate given late last year of 42-52 tonnes, after Mexican gold and silver miner Fresnillo said it was hedging 47 tonnes of output over five years. In their quarterly Global Hedge Book Analysis, Societe Generale and GFMS analysts at Thomson Reuters said the bulk of the rise in the global gold hedge book last year was driven by Fresnillo and Russia's Polyus Gold, which announced a major hedging deal in July. ... ... For the remainder of the report: http://www.reuters.com/article/2015/03/27/gol...6N0WT2IP2015...

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Chris Powell 13 abonnés

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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.

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