Gold News

AngloGold CEO expresses faith in yellow metal

Gold will continue to perform strongly into 2008, according to one prominent figure in the gold mining industry.

Mark Cutifani, chief executive of AngloGold Ashanti, told news.com.au that he expects to see gold prices stay above the $800 per ounce mark as a result of increased demand.

"You can take gold anywhere in the world and there will be a buyer, which can't be said for many other commodities," Mr Cutifani commented.

Prices today neared a four-week high on the back of global economic uncertainty following the assassination of Benazir Bhutto, the Pakistani opposition leader, earlier this week.

Spot gold prices stood at $826.70 per ounce earlier today (December 28th), rising from $824.70 yesterday, Reuters reports.

Earlier this year, Newmont Mining vice chairman Pierre Lassonde told a mining event in Western Australia that he expected gold prices to reach $1,000 in the future.

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