Barrick CEO forecasts $2,000 gold within 2 years
Duncan Richardson, News Editor
5 Mar 2014, 3:29 p.m.
CEO of Barrick Gold Jamie Sokasky is forecasting gold can reach $1,500 per ounce in 2014 and $2,000 within two to three years. Speaking at a Bloomberg event, Sokasky also believes the market overshot to the downside last year as investors liquidated their positions from exchange traded funds.
Institutional investors are split on their forecasts for gold. Goldman Sachs are predicting gold will finish 2014 at $1,050 per ounce, Westpac’s are predicting gold will drop to $1,011 by December and UBS AG has increased its 2014 forecast to $1,300 from $1,200.