Gold News

Barrick bullish on future of gold prices

A leading figure at Barrick Gold Corp., the world's largest gold producer, revealed yesterday (September 10th) that the company has a positive outlook for gold prices.

Alexander Davidson, executive vice president for exploration and corporate development, explained that he is not overly concerned by the recent sharp correction.

In an address at the Denver Gold Forum, he noted that the relative slowdown has given rise to increasingly strong demand in countries such as India and Turkey.

He said: "We still have global inflationary risks and low interest rates, both of which support gold prices.

"And we don't think we've seen the last of the credit issues that began a year ago."

Mr. Alexander's sentiments have also been corroborated by Nick Holland, the CEO of Gold Fields, the world's fourth largest gold producer.

He explained that the current financial landscape is ideal for gold investment, not least because a number of countries find themselves burdened by "negative real interest rates".

"Do investors really want to hold all of their investments in these financial instruments where they aren't going to maintain their capital?" he asked.

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