The head of a leading South African gold miner yesterday (February 24th) predicted that Gold Prices are poised to move higher, Reuters reports.
Gold Fields is the world's fourth-largest producer of the yellow metal and recently reported that it enjoyed a 400 percent profits increase in the second fiscal quarter of 2009.
Now CEO Nick Holland has explained that his company is happy with the current Gold Price and believes that it can move on to surpass its all-time high of $1,030 per ounce.
Speaking at a BMO Capital Markets mining conference in Florida, he was quoted by the news provider as saying: "The fundamentals for gold are good. The gold price has done particularly well and we are pleased with $1,000 gold.
"Has it a prospect to go higher? Clearly it does."
Mr. Holland's comments come a week after the World Gold Council claimed in its latest quarterly Gold Demand Trend report that investors are buying up gold bullion in their droves at present.
"The extreme uncertainty that currently surrounds the global economy is unlikely to abate and should continue to underpin net investment demand, particularly demand for bars and coins," the report stated.
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