Daily Metal Market News & Metal Prices
 
Daily Metal Prices & Market News
Friday 03rd of September 2010
Tuesday, August 7, 2007

Newmont chief bullish on gold price

Story link: Newmont chief bullish on gold price
by Gill Montia
Newmont chief bullish on gold price

The vice-chairman of Newmont Mining Corp, which is one of the world’s largest gold producers, expects the price of gold to pass the $US1,000 mark.

Mr Lassonde, who is also chairman of the World Gold Council and known to be optimistic on gold prices, holds the view that the boom in global resources still has someway to go.

Whilst gold is currently fetching about $US670 an ounce, he is confident that the price “will go a heck of a lot higher”.

Newmont has significant assets or operations on five continents and the company’s vice-chairman sees the economies of China and India creating a bull market in natural resources that will last for 20 years.

He says that the Chinese and Indian economies may experience downturns in their expansion but these will be short-lived, allowing the boom conditions to continue.

In this respect Mr Lassonde also sees the prices of platinum and oil increasing, but he believes that copper has already hit its peak in the pricing cycle.

Newmont Mining expects to produce up to 5.6 million ounces from its global operations this in 2007.

 

Add to Bookmarks:

ADD TO NETSCAPE     ADD TO DEL.ICIO.US     ADD TO DIGG     ADD TO FURL

ADD TO STUMBLEUPON     ADD TO YAHOO MYWEB     ADD TO GOOGLE     ADD TO SPURL


Related posts to: Newmont chief bullish on gold price

Cornerstone, Newmont signs agreement ...

Harte Gold announces management changes ...

Dutch Gold adds Geologist, updates operations ...

Genco invest in two silver-gold mines ...

Strike reprieve for Peruvian copper miner ...

Latest Metals News:

Latest News  US pending home sales data helps copper prices

Latest News  Positive data chases gold prices lower

Latest News  Gold gains on search for safetey ahead of economic data

Latest News  Gold gains as US dollar weakens

Latest News  Gold prices fall on US jobs news

Latest News  US durable goods orders, new home sales drive metals price moves

Latest News  Gold gains, copper drops on US home sales data

Latest News  Copper prices fall on economic, demand concerns

Latest News  US unemployment numbers hurt copper prices

Latest News  Copper prices gain on more inventory declines


Previous: «
Next: »

Visited 1674 times, 1 so far today

Gold ($/troy ounce):

Silver ($/troy ounce):

Platinum ($/troy ounce):