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Periodical article | Leiden University catalogue | WorldCat |
Title: | Futures hedging policies for the South African gold mining industry |
Author: | Poitras, G. |
Year: | 1986 |
Periodical: | South African Journal of Economics |
Volume: | 54 |
Issue: | 4 |
Pages: | 395-405 |
Language: | English |
Geographic term: | South Africa |
Subjects: | gold exports |
External link: | https://doi.org/10.1111/j.1813-6982.1986.tb00887.x |
Abstract: | Since 1981, limited hedging of gold output by the South African mining houses has been permitted, subject to approval by the Reserve Bank. This article clarifies certain issues of importance for hedging gold output. It first presents a general review of gold and metals hedging and a taxonomy of hedger categories and outlines the connection of the various types of hedging practices to the South African gold mining industry. Secondly, a theoretical formulation of the hedging problem is specified and used to describe appropriate gold hedging policies. Finally, the implications of a considerable increase in South African gold hedging activity for the global market is discussed. App., bibliogr., notes, ref. |