Gold To Float To $800: Goldcorp Chairman Sees Value Rising

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Gold's investment magnetism is strengthening as governments around the world scramble to print money, Telfer told a Vancouver Board of Trade luncheon yesterday.

Growing middle classes in China and India are stoking demand, Goldcorp's Ian Telfer told a Vancouver audience yesterday. A deluge of paper money will float the price of gold to $800 US this year and spike it even higher down the road, Goldcorp chairman Ian Telfer says.

Gold's investment magnetism is strengthening as governments around the world scramble to print money, Telfer told a Vancouver Board of Trade luncheon yesterday.

...Telfer, who heads the world's second-largest gold company by market capitalization, warned his listeners that nobody in the gold business ever predicts that the price of gold is going down.But, for the first time, production from gold mines has flattened out and is starting to fall, he said.

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