Aaron Regent, President and CEO of Barrick Gold, spoke to CNBC this morning about the state of the gold market.
- 0:40 There are a lot of price supportive factors that should encourage gold to go higher; many of these are macro factors, such as government deficits and trade economic imbalances. Supply has also fallen for Barrick Gold.
- 1:25 It is very difficult to find new mines.
- 1:55 The gold ETF and the role of gold in portfolios is becoming increasingly important. But, in reality, the industry is very small, so it doesn’t take a lot of capital to flow into the industry to change things.
- 3:00 Lots of jokes about Bernanke helping his company.
- 3:50 If China goes into recession, gold could get hit. If the U.S. dollar becomes stronger, gold could be hit too.
- 4:45 We are at the 40 year average in terms of oil and copper priced in gold.
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