Follow up to post Gold Hits Record High at $1,035.95 on Weak Dollar
Australia’s second biggest gold company Lihir Gold Ltd says the price of gold could climb to $US1,500 per ounce.
Gold rose to a record high of $US1,062.70 an ounce on the New York Mercantile Exchange on Thursday.
The value of gold has soared in recent weeks 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 $US1,500 and I see that as perfectly achievable,” Mr Hood told ABC’s Inside Business on Sunday.
Mr Hood said the gold price had doubled over the last five years.
“There’s been a constant upward trend and we’re not surprised by this at all.”