矿企重启黄金对冲策略
关键词：实物黄金
俄罗斯最大的黄金生产商极地黄金在周四发布了第二季度报告。报告称，该季度Polyus的黄金销量同比上涨14%，至5亿2700万美元。极地黄金预计今年的黄金产量在158万至165万盎司间。第二季度Polyus的黄金产量同比增加4%至41.43万盎司。
随后，极地黄金宣布将对其产量进行对冲政策后，又引发了黄金生产行业对这一政策的讨论。在金价大跌中被抛弃的对冲策略在近年金价的大跌中又重新出现，今年以来，越来越多的黄金生产商开始使用这一策略以求在金价低迷成本高升的环境下抱有收益。
汤森路透的报告称，今年底全球黄金生产行业的对冲量将超过去年。
极地黄金上周宣布，将有88吨的黄金作为对冲，以固定的1321美元/盎司价格出售。而在今年3月底，路透称全球有87吨黄金用于对冲，比2013年年底的水平高了差不多10吨。
据路透的贵金属矿业主管说：“这是自2008年和2009年对冲量大量减少后最显著的增加。”对此，花旗集团则认为，矿企应当说服股东对冲策略所能带来的好处。
第一季度最大的对冲量来自澳大利亚的奥希阿纳黄金，计划两年时间中对冲6吨黄金。到今年年底，黄金生产商总的对冲量将达到48吨。数据显示，差不多全球15.5天的黄金矿产将在今年年底被用来对冲，这比高峰的2001年的400天的产量比，有巨幅下降。
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本文来源： 大田环球贵金属
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