``It's as easy to be nervous at $330 as it is to be satisfied,'' said Doug Campbell, financial director of South African gold miner, Avgold Ltd. ``We think that $330 is the top of what we are going to see for some time.''
He said ``it's not clear that there are a lot of people buying gold for jewelry purposes. When the speculators grow stale we'll see a decline. We are pessimistic'' about the current gold price. Avgold shares have risen more than 68 percent this year.
Among the world's top gold producers, No. 2 Barrick Gold Corp. has gained 34 percent, No. 3 AngloGold Ltd. has risen more than 55 percent, while No. 4 Gold Fields Ltd. has more than doubled.
``It's time to beware,'' said Mukul Sonawala, director at the Bombay Bullion Association. ``Prices have risen by more than $40 an ounce (since March). That's a lot of money in gold. A correction is due. This won't last for long.''
Goldput der Commerzbank f.Dez 638230 steigt
He said ``it's not clear that there are a lot of people buying gold for jewelry purposes. When the speculators grow stale we'll see a decline. We are pessimistic'' about the current gold price. Avgold shares have risen more than 68 percent this year.
Among the world's top gold producers, No. 2 Barrick Gold Corp. has gained 34 percent, No. 3 AngloGold Ltd. has risen more than 55 percent, while No. 4 Gold Fields Ltd. has more than doubled.
``It's time to beware,'' said Mukul Sonawala, director at the Bombay Bullion Association. ``Prices have risen by more than $40 an ounce (since March). That's a lot of money in gold. A correction is due. This won't last for long.''
Goldput der Commerzbank f.Dez 638230 steigt
