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Gold Fields on the price of gold

Tuesday, March 22, 2011 - 00:44

Mar 22 - The world's fourth-largest listed gold miner Gold Fields said it was possible the price of bullion may break $1,500 an ounce this year on the back of positive fundamentals.

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Nick Holland, CEO for the world's fourth largest gold producer, Gold Fields tells Reuters Insider that it was possible the price of bullion may break $1,500 an ounce this year on the back of positive fundamentals. "The supply-demand fundamentals are reasonably positive for gold and I would certainly hope that that provides at least an underpin for where the price is right now for the balance of the year," Holland said on the sidelines of the Reuters Global Mining and Steel Summit. "Could it break through $1,500 (an ounce)? I don't know, but it's possible," he said, when asked what the price of gold might do this year. Spot gold on Tuesday afternoon was steady around $1,427 an ounce, within striking distance of its record $1,444.40 an ounce set on March 7.

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Gold Fields on the price of gold

Tuesday, March 22, 2011 - 00:44