Publisher's Synopsis
Over the last decade creative financial inventiveness has sparked off exploding growth in derivative products in world markets. Futures, options, warrants, swaps and other exotic instruments are traded in huge quantities both on regulated exchanges and over-the-counter by banks and investment houses. These derivatives have brought a new dimension to the gold market.;Explaining derivatives without the usual formulae, jargon and fanfare, Jessica Cross in this book assesses the impact of this revolution on miners, market-makers, investors and speculators.;She explains the uses and relationship of derivatives to today's gold market, without the formulae, jargon amd fanfare. The usefulness of gold loans, futures, exchange and OTC options, spot deferreds, forwards and gold backed paper to different users are discussed. The prose and cons of hedging are debated, together with the increasing impact on the gold price of funds using derivatives.;Written mainly as questions and answer, supported by a complete glossary, the book can be dipped into or used for quick reference.
