Agnico Eagle Mines CEO Sean Boyd expects gold prices to continue to strengthen amid global economic uncertainty and deficit spending, and the metal may hit a record $2 000/oz in the next two to three years.
“Governments focus on running a deficit budget and spending; that loose money approach is good for gold,” Boyd said Thursday in a telephone interview. “You continue to get good buyer demand from China, India and the biggest buying coming from the central banks since the early 1970s.”