金价下降 巴瑞克称应恢复黄金避险账户
关键字：金价下跌、黄金避险账户
彭博社12月5日报导，即将于明年接下全球最大金矿商加拿大巴瑞克黄金公司（Barrick Gold Corporation）（NYSE: ABX）董事长职务的前高盛总裁索顿（John Thornton）称，恢复黄金避险账户是一项值得考虑的议题。该公司2009年斥资至少56亿美元以消除总量达300万盎司固定价格的黄金避险合约（黄金避险帐户），平均执行价格为每盎司1,070美元，藉以受惠金价的上涨。不过，金价今年以来大跌27%，将写下13年来的首个年度跌幅，因此金矿商恢复黄金避险账户的考虑也在情理当中。
Montrusco Bolton Investment Inc.基金经理人John Goldsmith表示，这项考虑是聪明的决策，该公司可以藉选择权卖权或者是远期合约来部分规避其生产黄金的价格风险，这可以确保生产以及现金流量。
法国兴业银行（Societe Generale）报告称，2013年第二季，全球金矿商的黄金避险账户减少52.9万盎司或16公吨；截至6月底的黄金避险账户总量为309万盎司或96公吨，此创下2002年统计以来的季度新低。数据显示，金矿商透过避险帐户来规避黄金价格风险的避险活动并不活跃，更多的金矿商倾向于以成本的控制来确保公司的获利，该行预期在2013年剩下时间，全球的黄金避险账户仍将持续减少。
市场咨询公司Precious Metals Insights Ltd.执行长Philip Klapwijk则表示，金价大跌之后有一个潜在的卖压来源是金矿商的避险账户（远期卖出合约）。在过去长达12年的黄金多头当中，大型金矿商陆续取消了避险账户以把握金价上涨所带来的利润；但如今金价下跌，金矿商可能重新建立起避险账户以规避金价过度波动的风险。
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本文来源： 大田环球贵金属
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