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Kitco News spoke with Steve Letwin, president and chief executive officer of IAMGOLD, during the BMO Metals & Mining Conference in Hollywood, Florida, who said that optimism is starting to creep back into the gold market. He said that gold sitting around the $1,350 ounce range “makes people a lot happier than when it was at $1,200.” Talking about his company, Letwin said that their main focus is to keep their balance sheet strong in order to be able to weather any adverse market conditions. He added that the company is “comfortable,” with gold’s current price around $1,300 ounce and the company is able to cover its capital costs. Although he can’t predict where the price of gold will go, Letwin said that he is expecting to see it go higher after a consolidation period. “You are going to see supply start to come off, when that happens there might be a price response,” he said. Tune in now to hear what Letwin has to say about the gold market and the company’s three goals for 2014. February 27, 2014.
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As well as the most accurate precious metal prices online, Kitco also provides up-to-the-minute news with usable market information. Videos provided by and © Kitco.
As well as the most accurate precious metal prices online, Kitco also provides up-to-the-minute news with usable market information. Videos provided by and ©
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