Barrick Gold has been hedging its gold production by selling futures contracts, thus locking in the price a year or more in advance of the physical gold being mined. This is a great strategy when gold is falling in price. It makes no sense when gold is in a bull market. Gold has been in a bull market for close to 10 years. It has climbed from a low of $255.10 an ounce to over $1,000 an ounce. Thus, Barrick Gold executives look pretty much like idiots. What were they thinking say back in 2003, when all the key players...