Thursday, November 6, 2008

More Gold Predictions at $1,000 an Ounce: Sell Your Gold as Prices are High

Another prediction has surfaced of gold reaching $1,000 an ounce in the near future.

Toronto-based Goldcorp, Inc.’s (TSX: G) CEO Kevin McArthur has claims that “We continue to believe gold’s status as a safe haven in times of global uncertainty is real.” McArthur has stressed that this is a long-term view, yet they predict “we will be seeing a four-digit gold price in the not-too-distant future.”

Barrick Gold Corp’s President has also stressed that he believes gold prices are on the rise.

The most recent high for gold prices was at $1,032 per ounce in March. Friday, October 31st, gold was priced at $723.70 per ounce.

Goldcorp claimed profit up $75.8 million this year, above predictions of Thomson Financial. Importantly, Goldcorp remains debt-free and holds over $450 million in cash and equivalents.

The company claims that production in Mexican and Canadian mining operations have increased and are highly profitable. McArthur has stated that he looks forward to “continued improvements moving forward”.

Gold prices are off the charts, and at Cash4Gold, we want to pay you the highest amount possible for your old or broken gold jewelry. Visit our blog for continued information regarding gold and its place in the market. Visit our site at Cash4Gold to see the prices we pay and learn about our process.

No comments:

Post a Comment