Barry Dawes Projects Gold To Reach $5000oz At The Resources Investment Expo In Brisbane Friday June 18 6:18 PM
This afternoon Barry Dawes, Managing Director of Martin Place securities made an even stronger call and suggested that gold could reach even giddier heights
Barry Dawes stated "the close of gold above $1240 for a new closing high marks the first real evidence of monetisation of the worlds public debt and should lead to significant upward moves in gold prices together with most commodities. The likely outcome is a very strong gold price that is likely to be measured in the $1,000's of dollars over the next few years."
Dawes sees the evidence for higher gold stories and sees $5,000 per ounce a reasonable target
Clifford Bennet said gold is a very strong buy on the basis of strong global economic growth, and that accelerating cultural demand in China and India is likely to see gold move towards $3,000 in the next few years. Whilst many in the market currently hold gold based on fears over Europe and China or as an inflation hedge, Clifford Bennet believes the primary driver of the gold price will be above current consensus global growth and is a remarkably positive story
Both Barry and Clifford will be presenting at the Resources Investment Expo on Saturday 19th June in Exhibition Hall One of the Brisbane Convention and Exhibition Centre.
Managing Director of Symposium, Kerry Stevenson, told ABN Newswire "This is a great opportunity for investors to get up close and personal with the resources industry."
LGL Price at posting:
$4.35 Sentiment: Buy Disclosure: Held
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(20min delay)