Former Rio Tinto executive Owen Hegarty says there is only one way it will go and that is a “north easterly direction over time”.
Author: Alex Heber
Posted: Friday , 18 Oct 2013
SYDNEY (AUSTRALIAN MINING) -
Gold only has one way to go, and that’s in a “north easterly” direction, former Rio Tinto executive Owen Hegarty says.
Speaking at the Gold Symposium forum in Sydney this week, Hegarty said demand from China is “unstoppable” and Australia will be playing “catch up” to deal with a “supply problem” for years to come.
Hegarty explained physical gold supply hasn’t been able to keep up with “sensational demand” which is “led by China and followed by India”. ...