黄金生产企业风险控制与套期保值策略

鉴于套期保值可以有效规避价格波动的风险，国际黄金生产企业一般通过远期、期权等衍生工具进行套期保值销售，国内黄金生产企业受市场因素制约，目前仅能利用T＋D和期货在套期保值方面进行一些尝试。文中探讨了黄金生产企业套期保值的必要性，介绍了国际黄金生产企业套期保值的一般方法，总结了国内黄金生产企业套期保值实践，合理制定了套期保值政策应遵循的基本原则。

Gold producers risk management and hedging strategy

Whereas hedging can be applied to avoid the price volatility risk,many foreign gold mining companies have usually adopted derivatives such as forwards and options to sell gold,but currently the domestic gold producers only have the T+D and futures for gold distribution because of the limitation of financial markets.This paper have introduced the general hedging methods of foreign and domestic gold producers,and have discussed the necessity of hedging for mining corporations and basic principles to make hedg...