| 21. | That drove mining companies, including Barrick Gold Corp ., North America's largest producer, to reduce their forward sales.
|
| 22. | Increased forward sales caused demand for loaned gold to soar last year, and pushed lease rates to record highs.
|
| 23. | The 1, 500-ton shortfall is made up by recycled gold, forward sales by mines and sales by central banks.
|
| 24. | Munk and Barrick developed the concept of forward sales in the 1980s, and have perfected their program since then.
|
| 25. | The Clear Channel forward sales agreement with Bear, Stearns & Co . Inc was terminated on August 2, 2006.
|
| 26. | The deficit was only filled by forward sales from producers and other sales by central banks, Gold Fields said.
|
| 27. | There is also a growing chorus of criticism that forward sales help keep the gold price in the doldrums.
|
| 28. | Gold consumption fell short of supply from new mine production, forward sales by producers and recycled gold, Gold Fields said.
|
| 29. | The man who pioneered forward sales of gold is backing off-- forced, he says, by the realities of the marketplace.
|
| 30. | And concern that forward sales by producers will decline with surging lease rates for gold also is helping boost prices.
|
