A plunge in the price of gold this year has led to gains for Australian miners who struck hedging deals as protection against sharp price swings.
The precious metal has fallen sharply since the start of the year, hitting a three-year low of $1,180 a troy ounce last month. It has declined further in Australian dollar terms.
The move has helped several companies with forward contracts to buy gold on the market and deliver the metal, said gold consultants Thomson Reuters GFMS in a quarterly report.
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