will begin a crash just like oil and uranium, page-177

The boss at Sino Gold made a few comments at the Kalgoorlie "Diggers 'n Dealers" annual mining conference this week.

Besides the fact that any conference called "Diggers 'n Dealers" sounds more like The Office Christmas Special’s dodgy Christmas party theme, it was the predictions on gold prices that caught my eye.

Jake Klein, Sino Gold's CEO, said that gold prices could climb to $1200 US an ounce, in the foreseeable future.

After stepping off the plane, back from the aforementioned funny-titled conference, Klein told me;

"If you look at what have traditionally been the 'friends' of gold — inflation, instability or volatility on global markets, geopolitical ricks, they are all positive for gold at the moment. I don't think the $US1000 figure is necessarily a ceiling for gold at all.

If you look at gold in inflation-adjusted terms relative to the previous historic highs, the current gold price is actually not very high.

Whilst it is in my interests (to talk up the price of gold), the most important things from the company perspective is to be a low cost producer and producing plenty of gold. Costs are more important for us than the gold price.