Newmont calls for $525 gold within six months
Thu Jun 9, 2005 10:59 AM ET
NEW YORK (Reuters) - The price of gold should rise to $525 an ounce by the beginning of 2006, the U.S. dollar falls another 15 percent against a basket of currencies, world economic growth keeps physical demand buoyant and production of the yellow metal continues to taper off, a top executive of gold giant Newmont Mining said on Thursday.
"When you add it up, we think you can see gold at $525 by Jan '06," Pierre Lassonde, the president of the world's largest gold mining company, said at the Reuters Mining Summit.
