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The Global Gold Hedge Book Analysis is a quarterly report which
provides a timely and comprehensive analysis of the global producer
hedge book.
This report is sponsored by Société Générale.
A key part of the methodology is that GFMS inputs all trades and
market data into the Brady Trinity treasury management system, and
extracts the key output parameters and sensitivities. This output
provides the core statistical element of the quarterly "Global
Hedge Book Analysis" report.
Société Générale Global Hedge Book Analysis,
Q1-2008 - Key Points
* The global producer hedge book stood
at 22.69 Moz (706 t) at the end of the first quarter of 2008.
* The rate of producer de-hedging surpassed
expectations, having increased from 07.Q4, to 4.12 Moz (128 t).
The activity was led by another sizeable cut to the forward sales
position.
* Producers average realised
prices improved 16% quarter-on-quarter, at $899/oz.
* Despite weighty cuts, the marked-to-market
value of the producer hedge book deteriorated a further $0.7 billion,
as the end-quarter gold price rose a further $100/oz.
Download
your free copy of the current report (Q1-2008)
| Specifications |
> 14 pages - Free report
> Quarterly publication
> sponsored by Société Générale

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| Main features |
Detailed commentary and statistics on the size and market
impact of producers' positions in forwards and options incorporating
measurement of the delta hedge against derivatives and the
impact of changes in variables such as price, contango, volatility
and interest rates.
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| Related
publications: |
> Annual Gold Survey
> Gold Survey - Update 1
> Gold Survey - Update 2
> Quarterly 3-Year Gold Forecast
> Precious Metals Quarterly
> Precious Metals Market
Briefing
> The Gold Market
in China - A New Beginning?
> Gold Mining
Reports
> The Ages of Gold
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| Copyright |
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© Copyright 2008, GFMS Limited
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