Got a gold watch It could be worth so much more soon, says Newmont

First published: 03-02-2010

The interest in gold has been picked up on by an expert in the industry, noting that those with gold watches and jewellery may be getting a lot more money for their pieces should they decide to sell later in the year.

Newmont Mining Corporation president Richard O’Brien said that gold prices may go up to $1,350 (£846) per ounce in 2010 - far surpassing the $1,000 (£626.50) marker that everyone was initially shocked at it passing only last year.

While it may be seen by many as a self-serving point to make, it is undoubtedly with fine reasoning, given that the price of gold has consistently grown over the last eight months.

At the official opening of the company's Boddington gold mine near Perth, Mr O'Brien said: "We will see continued support for the gold price. Gold is a safe currency. No country can dilute the value of gold."

Newmont employs around 31,000 workers and contractors and operates in eight countries: the US, Mexico, Peru, Bolivia, Australia, New Zealand, Indonesia and Ghana.

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