Barrick CEO: $2,000 Gold Is On Its Way
With a third batch of quantitative easing, strong buying from central banks and plenty of uncertainty in the world, Barrick CEO Jamie Sokalsky sees only one way gold could move – way up.
In an interview with CNBC's Squawk Box, Sokalsky talked about the problems with gold miners and how to fix many of the companies in the industry: “I think it needs to have a lot more discipline in terms of managing the capital we're investing and in managing the assets we have. We cannot just let the gold price dictate our earnings.”
Inevitably, the conversation turned to where gold will go through the end of this year and into next year. Sokalsky stated: “Well I think the factors are in place, more than ever, for a further rise in the gold price... I think the gold price could definitely surpass previous highs and go above $2,000 and even higher in the next year.”
For an in-depth look at Sokalsky talking about his plans for Barrick and what will drive gold prices up, check out this video.
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