| U.S. gold miner Newmont Mining Corp and Canada's Agnico-Eagle Mines said on Monday they expect increasing demand for gold as a monetary asset to send the price up to levels of $1,500 to $1,600 an ounce in the next 12 months.
Speaking in exclusive interviews at the Reuters Global Mining and Steel Summit, the companies' chief executives cited gold's use as a proxy currency, central bank gold purchases, rising demand from Chinese and Indian buyers, and an affinity for gold as an investment in developed economies as chief drivers leading the metal to $1,750 or even $2,000 an ounce in the next few years.............................................Full Article: Source
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