Thomson Reuters
BERLIN, Sept 27 (Reuters) - Barrick Gold , the
world's number one miner of the precious metal, said on Monday
gold prices could "easily" outperform recent record highs to
rise above $1,500 an ounce in the next year.
"From what we're hearing, there are still significant new
buyers coming into the market," Jamie Sokalsky, the company's
chief financial officer, told Reuters on the sidelines of the
London Bullion Market Association here.
"My view is that we could see much stronger prices still
from here," he said, adding: "I can see gold easily taking out
new highs and going above $1,500 an ounce in the next year."
Spot gold rose to a record high of $1,300 an ounce on
Monday.
Sokalsky said Barrick's cash costs for the year were likely
to be at the upper end of guidance as rising gold prices
increased royalty obligations, and reiterated the company's
output forecast of 7.6-8 million ounces for 2010.
He said the company's $500 million Cortez Hills mine was
likely to outstrip its current production target, however.
"The first two quarters have been great quarters for the
mine, so we expect to exceed that guidance of 1.1 million
ounces... probably (by) in the neighbourhood of 5-10 percent,"
he said.
(Reporting by Jan Harvey; Editing by Anthony Barker)
