Top African gold producer Anglogold Ashanti expects record gold prices to be sustained in 2011, with the precious metal between $1,300 and $1,500 an ounce, its chief executive said on Monday. "I certainly believe they are sustainable. The fundamentals are very strong," Mark Cutifani told Reuters on the sidelines of an African mining conference in Cape Town.
"I believe it will trade north of $1,300 and there is a good chance it will go through $1,400 and even possibly $1,500. The $1,300-$1,500 an ounce range would be the most likely outcome this year," he said. Cutifani said Anglogold expected to produce more gold this year than the 4.5 million to 4.7 million ounces predicted for 2010.
Comments
Comments are closed.