Gold producer hedging drops to record lows

- By FX Markets Staff
- @FXMarkets_
- 02 Jun 2008

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A total of 36 companies made hedge reductions in the first quarter, with the bulk of dehedging coming from four companies, who accounted for 4 Moz of the 4.8 Moz decline, according to VM Group, a London-based research company.

The latest cuts were mainly in forwards contracts - net forwards contracts shrunk by 22%, to 14.1 Moz at the end of the first quarter. Call options also suffered cuts, with net call options sold reduced by 0.5 Moz, and net puts by 0.3 Moz.

Gold producers have been

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