(Gold prices article updated with SPDR Gold news and closing gold prices.)HOLLYWOOD, Fla. ( TheStreet ) -- Gold prices could break the $1,600 an ounce mark this year according to Sean Boyd, chief executive officer of Agnico-Eagle Mines ( AEM). Boyd is among the many mining executives attending the 20th BMO Capital Markets Global Metals & Mining Conference here this week.
"Gold will ultimately go above $2,000 and I think its going to go in steps so I could see $1,600 this year, which means $40 to $45 silver," Boyd told TheStreet. Gold for April delivery settled up $21.30 at $1,431.20 an ounce on Tuesday at the Comex division of the New York Mercantile Exchange. The gold price traded as high as $1,431.50 and as low as $1,409.80 during Tuesday's session. Gold prices also got a boost from rising oil prices and comments from Fed Chairman Ben Bernanke about inflation and the impact of rising commodity costs. In his
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