Hedge Book

Goldman (NYSE:GS) Upgrades AngloGold Ashanti (NYSE:AU)

South African miner AngloGold Ashanti (NYSE:AU) was upgraded by Anglogold Ashanti (NYSE:AU) from “Sell” to “Neutral.” That’s an upward move of two notches for the gold miner. Earlier in the month Anglogold was upgraded from “Underperform” to “Neutral” by Credit Suisse (NYSE:CS). Anglogold also eliminated their hedge book recently, now standing in full exposure to gold. The gold miner closed

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AngloGold (NYSE:AU) No Longer Has Hedge Book

With gold prices expected to continue climbing for years into the future, a growing number of gold miners have been eliminating their hedge books. AngloGold Ashanti (NYSE:AU) has now completed the process. Over the last three years, Anglogold said they’ve created close to $40 billion in value for their shareholders, at a cost of closing the hedge book contracts of $2.63 billion. The buy-back

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Barclays (NYSE:BCS) Sees Gold Remaining Strong in Fourth Quarter

With fundamentals expected to remain in place, Barclays (NYSE:BCS) believes gold will continue to perform strongly in the fourth quarter. Barclays said “we maintain our view for the fourth quarter of this year to be the strongest quarter on record yet for gold prices, with downside corrections finding support from the seasonally strong period for fabrication demand with the forthcoming wedding

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AngloGold (NYSE:AU) Closing Hedge Book in Early 2011

AngloGold Ashanti (NYSE:AU) is poised to shut down its hedge book in the early part of 2011, joining other gold miners whose confidence in the support underlying gold prices will continue on for some time into the future.The giant gold miner will offer convertible notes and common shares as the choices to raise the capital to eliminate their hedging position.The offering of mandatory convertible

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