Goldcorp-CEO Jeannes: "Gold on the way up to $1,500"

2010-SEP-22

Roman Baudzus writes --

Chuck Jeannes, CEO of Goldcorp, the second biggest gold producer in the world, stated during an interview at the Denver Gold Forum that the gold price will reach a level of $1,500 in the coming years.

According to Jeannes, more and more investors are looking for a safe haven for their capital and this attitude is not likely to change in the next couple of years. Lasting concerns about the economic conditions, a slowdown of the global recovery and the intention of governments around the world to devaluate their currencies are mainly responsible for this development. Upcoming fears of a rising inflation in the near future make precious metals and especially gold look attractive to investors, he says. The underlying causes to look for a financially safe haven are not being tackled by governments but intensified. The high outstanding sovereign debts of many developed countries like Japan, Great Britain, the PIIGS countries and the United States are hereby playing a major role. Therefore there is no reason for the gold price not to rise to $1,500 in the coming years.