Gold News

Gold Fields chief: Gold Prices can 'clearly' go higher

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.

Want to Buy Gold but unsure how to do it? For dealing spreads of $3 per ounce – plus secure, professional storage in Zurich, Switzerland for just 0.12% per year – click through to BullionVault now...


See all articles by Gold Bug here.

Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.

Follow Us

Facebook Youtube Twitter LinkedIn



Market Fundamentals