Gold News

Expert speaks of belief in $2,000 gold

While analysts and investors brace themselves for the possibility of gold prices reaching $1,000 an ounce, others have been even more ambitious in their outlooks.

The Prospectors & Developers Association of Canada convention in Toronto has seen a number of experts speak out about the potential for gold to zoom past the psychological $1,000 milestone in the longer-term.

One such figure is Brad Baker, spokesman for Rainy River Resources, who expressed his firm belief that the yellow metal will eventually hit the $2,000 an ounce mark.

"There are people who think I'm just arm-waving, but I don't think that's the case at all," he remarked, according to the Financial Post.

The case for a $2,000 gold price also appears to be supported by evidence of slowing gold mining production and the weakening dollar.

Meanwhile, John Komarnicki of Alhambra Resources also said at the event that he believed gold had "a real future", the Globe and Mail reports.

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