As chief executives and directors of listed miners watched the gold price hover around $US1950 ($2720) an ounce on Wednesday, many would have been unable to resist doing the mental arithmetic on the revenue surrendered by hedge books lagging well behind the Australian dollar price of gold.
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Robert writes on companies and markets. He is a former New York and Shanghai correspondent, and has worked in Hong Kong. Email Robert at robertguy@afr.com.au
