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Gold Could ‘Easily’ Exceed $1,500: Top Gold Miner

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Reuters
Sept 27, 2010

Barrick Gold, the world’s number one miner of the precious metal, said on Monday gold prices could “easily” outperform recent record highs to rise above $1,500 an ounce in the next year.

“From what we’re hearing, there are still significant new buyers coming into the market,” Jamie Sokalsky, the company’s chief financial officer, told Reuters on the sidelines of the London Bullion Market Association here.

“My view is that we could see much stronger prices still from here,” he said, adding: “I can see gold easily taking out new highs and going above $1,500 an ounce in the next year.”

Spot gold rose to a record high of $1,300 an ounce on Monday. Delegates at the LBMA meet were bullish on prices earlier on Monday, delivering an average forecast of $1,406 an ounce for this time next year.

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This article was posted: Monday, September 27, 2010 at 9:40 am





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