Precious Metals

Reuters reported over the weekend that more and more gold miners are selling planned output ahead of time in order to bolster their finances. However, they are generally only selling their material a few months forward.

Reuters reported over the weekend that more and more gold miners are selling planned output ahead of time in order to bolster their finances. However, they are generally only selling their material a few months forward.

As quoted in the market news:

‘I see a short-term hedge as a weapon in the arsenal of a financial director to protect the company and generate some short to medium-term security,’ said Markus Bachmann, manager of precious metals and global resources funds at Craton Capital.

‘In a gold price environment that is a little bit shaky, as it was in the last six to eight months, you need certainty. So we say: fine. We accept that, as long as you don’t lock in too much production for a long period of time.’

Click here to read the full Reuters report.

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