|Aaron Regent, Barrick Gold CEO|
Barrick Gold (ABX - Get Report) CEO Aaron Regent: "Absolutely, I think if anything, what's happened in the last couple of years, gold has continued to reassert itself in global monetary affairs. You're seeing serious economists, like the head of the World Bank, for example, talk about gold within the context of an independent measurement of the value of currencies and a measurement of what's happened with inflation or deflation in different countries. You're seeing central banks who have gone from being net sellers of gold in the last 20 years to now, in the last two years, they've been net purchasers of gold.
JPMorgan (JPM) announced gold can be used as collateral, so you're really seeing gold reassert itself back into the fold as a global monetary asset. I think there was a period of time where it was being viewed as a barbarous relic, but I think the psychology around gold and the interest in gold has changed dramatically.
Most recently, it was just announced a couple of days ago that the Chinese again have bought 300 tons of gold, and you can also see gold within countries like India and China ramp up gold demand