Markets: Spot gold stoppage

Monteray Mining’s chief executive expects gold to hover around its current price for the next two years.

Gold’s spot price is likely to remain between $US1200 to $US1300 an ounce for as long as two years after rising more than four-fold between 2005 and September 2011, Mike Edwards, chief executive officer of gold explorer Monteray Mining Group, says.

“For a year or two I see gold around $US1300,” Edwards told Markets Spectator.

“Gold has had a good run. Producers have to deal with [the current price]."

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