ZLATO – cieľ $US1200 v 2008

The gold price should breach $US1,000 an ounce by the end of the year and eventually hit $US1,200 per ounce, says Sino Gold Mining Ltd chief executive Jake Klein.

Gold would continue to offer a hedge against inflation in an environment of financial market instability, Mr Klein told media at the Diggers and Dealers conference in Kalgoorlie today.

“We closed out all of our hedges on the basis that we had an optimistic view of the gold price,” he said. “I think $US1,200 an ounce seems like a reasonable target.

“I’d be very surprised if we didn’t see $US1,000 per ounce by the end of the year.”

Source:www.thewest.com.au/default.aspx

12.08.2008

"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value."   Alan Greenspan