The current bull cycle for gold costs is still in progress, and its only a matter of time prior to price levels for the yellow metal struck $2,000 an ounce, this according to Sean Boyd, CEO of Agnico Eagle.
Boyd noted that present gold prices are really absolutely nothing to worry about.
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“Golds fine. I think when we take a look at the existing gold price, a little over $1,450, I believe its actually doing rather well provided where the basic stock exchange are,” he said.
“I believe the gold rate is just low enough to attract a great deal of brand-new money into the space, and I believe as weve pointed out prior to here, we began to see more generalist money start to look at the larger, greater quality gold miners a number of years earlier.
Spot gold last traded at $1,461.50 an ounce Monday, flat on the day, while stocks fell, with the S&P 500 down almost a percent.
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On mining, junior miners are still not seeing gold prices at the levels needed for financiers to come in, Boyd stated.
” Were still in that bull market that began in 2015. “We believe in this cycle gold will hit a brand-new high in U.S. dollars.