[miningmx.com] – THE world’s gold mining sector cut forward sales of the metal 17 tonnes in the second quarter of this year, said Reuters citing data from its Global Hedge Book Analysis written with Societe Generale and GFMS analysts.
“Polyus Gold and Fresnillo, holders of the two largest hedge books, were the largest contributors to the de-hedging activity, on a combination of scheduled deliveries into forward sales contracts, and options reaching maturity,” the report said.
The global producer hedge book stood at 177 tonnes at the end of June, down 9% from the quarter before.
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