Harmony Gold CEO sees gold at $1,800/oz by 2012

JOHANNESBURG Thu May 5, 2011 4:03am EDT

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JOHANNESBURG May 5 (Reuters) - South Africa's Harmony Gold (HARJ.J),the world's fifth-largest gold miner, sees the price of gold rising to $1,800 an ounce in 2012, its chief executive said on Thursday.

The spot price of gold XAU= has been at record peaks, surpassing the $1,500 an ounce mark, and Chief Executive Graham Briggs said it could even go higher.

""My prediction of $1,500 has already been surpassed. Why not go to $1,800? It has risen $200 an ounce fairly recently," he said at a results presentation, pointing to factors such as the weakening of the U.S. dollar. (Reporting by Ed Stoddard, editing by Agnieszka Flak)

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