"Outstanding global gold hedges fell by 4.0Moz in the fourth...

"Outstanding global gold hedges fell by 4.0Moz in the fourth quarter, bringing the total decline in gold hedges for 2009 to 8Moz.

This is according to the VM Group/Fortis Bank Gold Hedging Report, which says that at the end of 2009, the total global hedge book stood at 7.9Moz."

The article tells us that at the beginning of 2006 there was 53.6 million ounces of gold hedged.

Quote and information from "Global Gold Hedge book falls 4Moz in Q4" at http://www.mineweb.com/mineweb/view/mineweb/en/page34?oid=98957&sn=Detail

My comment:
So a small junior like ADU commits to 290,000 ounces of heged gold for 5.5 years at a fixed price of US$1075 - that is an amazing 3.67% of the world's hedged gold!!!!!