Gold Price Will Get a Boost on Supply, Safe Haven Appeal: Newcastle

Bloomberg reported that Australian miner Newcastle expects support for gold in the near term, supplied by its safe haven appeal.

As quoted in the market report:

Gold may trade between $1,500 to $2,000 per ounce this year, Greg Robinson, chief executive officer of the Melbourne- based company, told reporters today at conference in Hong Kong. Bullion for immediate delivery last traded at $1,612.70 an ounce.

To view the whole Bloomberg report, click here,