Goldcorp chief says Asian buying will support price of gold

Section:

By James Wilson and Michael Hunter
Financial Times, London
Wednesday, October 22, 2014

Demand from China and other parts of Asia will support the price of gold, the chief executive of one of its largest miners said, as the precious metal traded near its strongest level in six weeks.

Chuck Jeannes of Goldcorp said he saw "as much clarity in the market as there has ever been," with a "floor" created by strong demand whenever gold reached or fell below about $1,200 per ounce.

"The anecdotal evidence is that gold goes down and physical demand goes up," Mr. Jeannes said in an interview with the Financial Times. "A huge number of physical buyers in the world see gold as a bargain below $1,200." ...

... For the remainder of the report:

http://www.ft.com/intl/cms/s/0/3a1a0d40-59c4-11e4-8771-00144feab7de.html



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