Bernanke Appointment Significant for Gold
Lassonde predicted that there will be a slowdown in the U.S. economy, which will motivate the Fed to become "commodative," which will be good for gold. Meanwhile, he noted, "China continues to defy expectation" in terms of demand.
Gold "supply continues to be challenged," Lassonde forecast as the production of Newmont and other international gold mining companies is down. As a result, he predicted the gold price will reach $525 an ounce before the beginning of next year.