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Harmony hedges gold this time

Having hedged the local exchange rate in February, South Africa-based gold producer Harmony has now forward sold 432,000 ounces of gold production over a two-year period.

Harmony hedges gold this time Harmony hedges gold this time Harmony hedges gold this time Harmony hedges gold this time Harmony hedges gold this time

Harmony is the third largest producer of gold from South Africa, after Sibanye and AngloGold

The company has cited volatility in the local gold price as the reason why it was given the opportunity to lock in 20% of its production at such a favourable gold price of R682,000 per kilogram

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