Goldcorp Comments on Future Gold Prices

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Includes: GG, GLD, IAU
by: Mick Weinstein

On Goldcorp's (NYSE:GG) earnings report conference call from last night, executives were asked to speculate on the price of gold going forward:

Steve Gresh, Shareholder

Does management have any expectations on what the future price of gold will be, and if so can you tell what those are in the next one or two years?

Ian Telfer, President and Chief Executive Officer

We are very bullish on the price of gold as a management group. We see mine supply declining, we see central bank sales flat or some central banks even buying gold back, we see the economies of India and China very strong, continuing to take a lot of the uptake from the mines, and we still believe the U.S. Dollar will weaken before it strengthens. So that combination leads us to think the price will go a little higher. I don’t want to put a price on it but it could certainly go up $200 from here over the next two years without any trouble.

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