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Barrick Gold Chairman Peter Munk Says Metal Prices May Double

April 1, 2008 at 19:17 by Mario

Peter Munk, chairman of Barrick Gold Corp., comments on the outlook for gold. He spoke today at a presentation in London marking the 25th anniversary of the founding of the Toronto-based company, the world’s largest gold producer.
On the gold price:
“I can see more and more reasoning that gold will double or go even higher. Investors should keep a small part of their investments in gold.”
On gold as a commodity:
“All commodities respond to supply and demand, but gold has that little bit extra, the fear factor. You don’t go to aluminum, copper, nickel if there’s chaos in the financial world, but you do go to gold. These are not characteristics that you can subscribe to any other commodity apart from gold.”

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