Haywood Tempers Gold Forecast

HAYWOOD MINING TEAM, Haywood Securities
"With the full impact of the collapse of the U.S. housing market unknown, and repercussions within the broader global market beginning to materialize in the U.S., we remain bullish on gold fundamentals, as we see little change in the pillars that supported gold's rise. Since we cannot predict when and what the next catalyst will be to propel gold above US$$1,000/oz., we have tempered our 2008 gold forecast to US$940 from US$975, implying an H2/08 average of US$970 per ounce." (7/21/08)

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