Gold could go to $1,200, Newmont

Newmont Mining Corp chief executive Richard O'Brien recently told the Reuters Global Mining and Steel Summit that he sees gold trading in a range between $900 and $1,200 per ounce over the next few years, supported by lower industry output and inflation concerns.

Newmont Mining Corp’s Boddington mine should produce 300,000 to 500,000 ounces of gold this year and account for almost 20% of the company’s total production by some time next year, according to O’Brien.

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