Central bank demand could push gold prices to $2,500/oz. in three years, Newmont Mining (NEM)...

Central bank demand could push gold prices to $2,500/oz. in three years, Newmont Mining (NEM) CEO Richard O'Brien says, seeing central banks purchasing at least 450 tons of gold next year as they try to diversify reserves and protect against inflation; bank buys on price dips should help create a floor for gold prices at ~$1,600.

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Comments (8)
  • Joe Razorback
    , contributor
    Comments (280) | Send Message
    Can I borrow $1,600 for an ounce of shiny metal?
    26 Sep 2012, 12:37 PM Reply Like
  • Neckermann
    , contributor
    Comments (21) | Send Message
    That's correct, $1,600.- is the price per ounce for the time being.
    The next push comes, when the financial system is failing and Europe goes into an even deeper crisis.
    26 Sep 2012, 12:46 PM Reply Like
  • crisismode
    , contributor
    Comments (20) | Send Message
    Please show me where I can buy an ounce of gold today for $1600.
    26 Sep 2012, 02:09 PM Reply Like
  • GoldBoy
    , contributor
    Comments (11) | Send Message
    ??? Gold's Price (spot) now is nearly (1750$ per ounce) ..... i already closed a sell positions at 1610-1630$ when i lost hope that price will go that down again ......


    26 Sep 2012, 12:58 PM Reply Like
  • youngman442002
    , contributor
    Comments (5123) | Send Message
    I am in Colombia and in the paper today they do not want to hold to many dollars .....they have oil and gas and that is all priced in dollars...even the little guys are worried about the fiat....good for them....got gold
    26 Sep 2012, 01:30 PM Reply Like
  • whidbey
    , contributor
    Comments (3539) | Send Message
    Very interesting but hardly new.


    The forecaster is a miner ETF; wonder how he views
    Rgld and SLW, both are streamers for miners. They tend to be more flexible and responsive to price changes in the metals. The bank buying is an argument which appeals. That leaves only confiscation worries; if FDR found it appealing with a more recent politician find it justified?. This is not only the currency wars between governments, but principally between government and consumers.
    26 Sep 2012, 02:38 PM Reply Like
  • jklk0429
    , contributor
    Comments (214) | Send Message
    Also check out SAND for a gold streamer. The ex-SLW head is running it now.
    26 Sep 2012, 03:57 PM Reply Like
  • jelkas35
    , contributor
    Comments (8) | Send Message
    Listen, far too many economic "Tells" to ignore a position in Gold/Silver! Personally long in both with the lion's share in that "ugly sister" standing behind Gold. You know the one that has far more use and need attached to it globally......SILVER!
    26 Sep 2012, 09:54 PM Reply Like
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