3m @ 167.26g/t au, page-57

This article overnight adds further support. Many analysts are talking similar price rises and now the majors are also talking openly about the price rise as well....


"Gold may reach $US1500

October 12, 2009
Article from: Australian Associated Press

AUSTRALIA'S second-biggest gold company, Lihir Gold, says the price of gold could climb to $US1500 an ounce.

The value of gold soared to $US1050 an ounce last week as the US dollar experienced weakness, China restocked and investors looked for a hedge against inflation.


Lihir Gold chief executive Arthur Hood said he expected the price of gold to continue to rise. "There's been talk this week about $US1500 and I see that as perfectly achievable," Mr Hood told ABC's Inside Business program yesterday.

Mr Hood said the gold price had doubled over the past five years. "There's been a constant upward trend and we're not surprised by this at all."

He said there were a range of factors contributing to pushing up the gold price.

"On the supply and demand side, there's gently declining mine supply, but physical demand for gold is staying constant or actually increasing," he said.

He said buying by central banks was also adding to demand."

I like Lihir and from the micro cap gold sector, for increased leverage, Gondwana, Mantle and Maximus, their charts are starting to trend up.