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Friday, March 12, 2010

Newmont Mining (NYSE:NEM) CEO: Gold Prices Surging

Gold Prices Rising

Newmont Mining (NYSE:NEM) CEO Richard O'Brien recently said he believes the misguided monetary policies of the governments around the world ensure gold prices will rise as inflation increases and currencies fall in value.

Consequently, O'Brien thinks gold could reach as high as $1,500 an ounce over the next several years, as the consequences of central banks printing money to allegedly stimulate their economies will come back to haunt them, saying, "The long-term impact of all the stimulus programs that we have seen in the U.S. and in European countries is going to come home to roost."

This year O'Brien sees gold trading in a range between $1,000 to $1,250.

Gold Prices Rising

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