Newmont CEO: Gold Is Going To $1500 This Year

Newmont CEO Richard O’Brien comments on where he thinks the price of gold is head:

“For me this is a year where we see gold trade between $1300 – $1500 trading range.  It will be volatile, but I see continued upside from there over the next couple years.  This super cycle mentality, creating a middle class in China, demand for gold as an investment….The worry point for us would be if the economy really slows down and we don’t see growth, particularly in China and India. If that forecast is wrong, then gold goes down. Otherwise we’re in a great spot. I think there’s a lot of shine in this metal.”

Source: CNBC

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