Deals
G-Resources Sees Gold at $2,000 an Ounce on Supply Constraints
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G-Resources Group Ltd., whose development of a gold mine in Indonesia has been delayed by six months, said prices may reach $2,000 an ounce because of supply constraints and investment demand.
“We’ve got no doubts you’ll see spikes up to $1,500 and probably $2,000 over the next few years,” G-Resources Vice Chairman Owen Hegarty said in an interview. “Demand is strong and is only going to get stronger. Constraints on supply have seen production fall in past decade, and the discovery and development of new mines just hasn’t caught up.”