(Bloomberg) -- Gold will rise as high as $750 an
ounce this year, about $100 more than today, as concern about
accelerating inflation spurs demand for the metal as a store of
value, Newmont Mining Corp. Vice Chairman Pierre Lassonde said.
Higher interest rates are ``bullish for gold,'' Lassonde,
60, said in an interview yesterday in London after a dinner held
by the producer-funded World Gold Council, of which Lassonde is
chairman. ``The only reason rates are going up is because
inflation is going up.''
Read more at Bloomberg Commodities News
ounce this year, about $100 more than today, as concern about
accelerating inflation spurs demand for the metal as a store of
value, Newmont Mining Corp. Vice Chairman Pierre Lassonde said.
Higher interest rates are ``bullish for gold,'' Lassonde,
60, said in an interview yesterday in London after a dinner held
by the producer-funded World Gold Council, of which Lassonde is
chairman. ``The only reason rates are going up is because
inflation is going up.''
Read more at Bloomberg Commodities News
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