Citigroup Ups Barrick, Gold, Silver Price Targets

Source: Reuters (10/8/07)

John Hill, director, metals research at Citigroup in San Francisco, said he now expects gold to rise to $750 per ounce for 2009, $800 for 2009 and $820 for 2010.

Citigroup on Monday lifted the price targets of gold miners including Barrick Gold Corp, and Freeport-McMoran Copper & Gold Inc boosted by higher forecast for gold prices based on strong market fundamentals.

John Hill, director, metals research at Citigroup in San Francisco, said in a client note that gold should benefit from safe-haven buying, favorable exchange rates and seasonal demand.

Hill said he now expects gold to rise to $750 per ounce for 2009, $800 for 2009 and $820 for 2010.

"Within this, a test of $850 to $1,000 per ounce is likely. Corrections, possibly in early 2008, should be treated as opportunities," Hill said.

He also raised his estimates for silver based on robust bullion prices. Hill now forecast silver to hit $15 per ounce for 2008, $15.50 for 2009 and $16 for 2010.

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Source: Streetwise Reports (07/13/2020)

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"China's export quota could be opportunity for Canadian miners"

Mexico: Gold's Next Powerhouse Player
Source: Marc Davis, BNW News (11/03/2009)

As the world's key gold producing nations struggle mostly in vain to replenish dwindling below-ground supplies, Mexico is bucking the trend in a big way.

Where Have All the Gold Mines Gone?
Source: Brent Cook, Exploration Insights (04/14/2009)

Given the declining global gold production, mining companies’ demand for reserve replacement and the acute dearth of new gold discoveries, there is no doubt that real economic discoveries will be exceptionally valuable. . .the opportunity for stellar profits is the best it has probably ever been. Identifying the few successes, however, will require vigilant and constant technical assessment of geology and drill results, always with an eye to mine economics.

Congo Completes Mining Review, Says Majors Quit Talks
Source: Reuters (12/20/2008)

"Review process is extended an additional 45 days to allow six companies to return to the negotiating table for direct talks with government ministers."