LONDON, Nov 21 (Reuters) - Barrick Gold Corp chairman Peter Munk said on Friday that the company, which has one of the largest gold hedgebooks in the industry, was no longer committed to selling gold on forward markets as it was now cash rich.
The world's second biggest gold miner said it would not hedge gold for the next ten years.
Gold's rise over the last couple of years to levels last seen in 1996 has largely followed from miners buying back previously hedged positions, although the pace of so-called de-hedging is slowing.
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