Given recent volatility in commodity prices and exchange rates, dual-listed Gold Fields has undertaken select hedging of the oil price and the Australian dollar gold price, the miner said on Tuesday. Gold Fields’ Australian dollar gold price hedge would comprise 165 000 oz at a floor price of A$1 695.86 and a cap of A$1 754.18 from June this year to December 2019; and 130 000 oz at an average forward price of A$1 719.92, between July and December this year. The gold volumes hedged represent 75% of the expected production from the Australia region for the second half of the year. The hedging activity is in line with Gold Fields’ policy to protect cash flow at a time of significant expenditure.
