Thursday, March 18, 2010
Central Bank Gold Holdings Expand at Fastest Pace Since 1964
March 18 (Bloomberg) By Nicholas Larkin-- Central banks added the most gold to their reserves since 1964 last year amid the longest rally in bullion prices in at least nine decades, data compiled by the World Gold Council show.
Combined holdings rose 425.4 metric tons to 30,116.9 tons, an increase worth $13.3 billion at last year’s average price, according to the data. India, Russia and China said last year they added to reserves. The expansion was the first since 1988, the data from the London-based council show.
Wednesday, March 17, 2010
Saturday, March 13, 2010
Rob McEwen Sticks With $2,000/oz Gold by Year-end
TORONTO (miningweekly.com) – Goldcorp founder Rob McEwen is standing by his forecast that the price of gold will reach $2 000/oz by the end of 2010, he said on Monday.
While it may still seem a stretch from current levels of around $1 135/oz, it should be noted that McEwen has been making the prediction since at least March 2006. At that time, prices for the yellow metal had not topped $600/oz since January 1980.
“I have been saying for over five years: by the end of this year, we will be at $2 000 and, when the game is over for gold, it will be over $5 000 an ounce,” he said in an interview on the sidelines of the Prospectors and Developers Association of Canada's annual convention.
While it may still seem a stretch from current levels of around $1 135/oz, it should be noted that McEwen has been making the prediction since at least March 2006. At that time, prices for the yellow metal had not topped $600/oz since January 1980.
“I have been saying for over five years: by the end of this year, we will be at $2 000 and, when the game is over for gold, it will be over $5 000 an ounce,” he said in an interview on the sidelines of the Prospectors and Developers Association of Canada's annual convention.
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