Gold to trade above $1,000 next year - Mark Cutifani, AngloGold

| Tue, 19 May 2009 11:01In an interview on ClassicFM @ 18.15 on 15 May[miningmx.com] -- AngloGold Ashanti believes it delivered on its promise to give shareholders a leverage to the gold price in its financial results and CEO Mark Cutifani is optimistic about the future of the yellow metal.

"We’ve come off a big year of restructuring and we promised that shareholders would see leverage to the gold price. They’ve seen it with a significant increase in realised gold price itself and so from our point of view, a big change in earnings so we’re very happy to report that leverage we’ve been promising," Cutifani said on ClassicFM's Classic Business.

He said there have been significant improvements in the gold holdings in exchange traded funds. "Demand for our product has been significant. People are now starting to recognise that if you don’t have gold in your investment portfolio, you’ve made a big mistake," Cutifani said.

AngloGold has seen a strong gold price, despite it traditionally being the weakest part of the year.

"We’re very optimistic about gold and I wouldn’t be surprised to see gold trade above $1,000 consistently next year," Cutifani said. 

[mining mx]