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21 November 2009 at 21:20 IST
Gold to stay above $1000: Harmony Gold
Harmony Gold CEO Graham Briggs has said that dollar price of gold could stay above $1 000 this year after it hit a new record, but stronger rand was eroding gains for South African producers.
Gold hit a record high on the spot and futures markets yesterday, with dollar weakness continuing to support sentiment by attracting new investment in the metal. "Certainly it will go higher.
It wouldn't surprise me if it stayed above $1 000 an ounce," Briggs said. "My preference is that it should not rocket fast, but that it should creep up steadily.
It's a little bitter-sweet for us South African gold producers, because what affects us most is the rand gold price. This is what would make a difference."
NCDEX GUARGUMJODHPURJUL12 20 July 2012
contract was trading at
Rs 0 . What's your view on it?
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