The Gold Report: When you last spoke with The Gold Report this past March, gold had just dropped from its first peak of the year, from $1,781/ounce (oz) at the end of February to $1,660/oz in a matter of three weeks. Now it's looking for support at $1,700/oz. The trading range you predicted for 2012 looks good in retrospect. What are you projecting from here?
Mark Lackey: I'm looking at a range from $1,680/oz to $1,850/oz, and moving up over the year so that by December I am expecting to see the gold price at $1,850/oz.
TGR: But you don't see a big breakout past $2,000/oz that some people are predicting?
ML: It's possible, but for the gold price to go much higher than $1,850/oz there needs to be a good reason, such as a big decline in the value of the U.S. dollar or major gold buying by central banks. While I expect the dollar will weaken somewhat in 2013, I don't expect a huge decline. Over the next few years we'll get above $2,000/oz, but probably not in 2013.
TGR: What do you see as the market drivers for gold at this time? Continue reading "Mark Lackey Homes in on Golden Mining Opportunities in West Africa"