De-hedging on hold

WITH gold trading above the $US500 an ounce mark, the pace of quarterly de-hedging fell to its lowest level in more than two years in the last quarter as producers looked to lock in the high prices.

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According to the Global Hedge Book Analysis, prepared by industry consultants GFMS on behalf of banking group Investec, 490,000oz were de-hedged in the December quarter.

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