Gold price firms in holiday-thinned trade, spotlight on Fed and Trump policies
The yellow metal has gained 27% so far this year.
Bloomberg interviewed Richard O’Brien, CEO of Newmont, on Friday who said gold could reach $2,000 in the next six months. O’Brien also said more certainty is needed around taxes and regulations before companies start hiring again.
O’Brien said that the financial uncertainty in Europe and U.S.A. will probably drive gold to $2,000.
O’Brien was asked about President Obama’s $447 billion job plan announced on Thursday and what CEOs need to see before they start hiring again.
“I think CEOs really need to hear is that we are not looking at one-time job creation but an environment into which longer term job creation is a really possibility. And I think that happens with a couple of things. Regulations which work. I don’t think we mind being regulated at all, I think we just want to make sure that the regulations work. And I think we want regulations to work quickly,” said O’Brien.
O’Brien said that companies also need more certainty over the long-term tax environment.
6 Comments
Johnsusko
The govrnment can stimulate, regulate it’s not going to help, the only thing that will help is to have corprations bring the jobs back from China, When you see products made in the USA in stores thats when our economy recovers, not until than.The other things to concider is the lack of regulation enforcement. The regulators most of the time are asleep at the switch.
Skip Picasso
Regulations don’t hire people. Taxes don’t hire people. DEMAND hires people. CEOs and other pundits who spout this “regulation and tax uncertainty” nonsense are speaking in code. What they’re saying is: “Millionaires/CEOs/the upper 1% haven’t robbed enough from the average person’s future.” They know that low-information voters are going to respond to the “Washington broke the country” meme and allow the country to stay screwed for years.
I_golden
No one has any faith in Obama and his minions, 2012 can’t get here soon enough.
retired and concerned
I heard that after the war (WW2)..post war germany had given workers all pay aftr 48 hrs per week tax free…the idea behind it was simple work more and make more money to spend…I worked in the auto industry for 35 yrs and the the more OT I worked the more I spent …the way I see it ..if some one bought a new car and could pay it off in half yhe time ..the would be more likely to buy a new vehicle in a shorter period of time ..ditto for household goods ie ..tv furniture etc…Im assuming that govts do their furture tax analyses on a 40 hr standard workweek…also if all OT aftr a cdertain amount of hrs was tax free unions might agree to working it (OT)..for straight time instead of time and 1 half ,double time because the take home would be equivalent to the bonus pay….also the govt could let employers to be xcluded fom taking off all the different govt deductions per the xtra OT hrs…and employers could take on xtra work without the burden of the OT pay…and if the govts could assure employers and employees that this tax free system wouldnt end abruply when the ecomomy started to correct .but very gradually over the years ..employers might start hiring more and their employees wouldnt be concerned about spending…the bottom line ..more people working more people spending
Mark
We at Higher Gold Prices.com think that the dramatic rise in gold and silver prices are a reflection in the diminishing value of currencies and an accounting of excessive money and credit creation since 1980. This is a monetary phenomenon and is now entering the third and last phase where it becomes a bubble but that is the stage where the biggest price gains will occur.
In fact we think gold will be $5000 and silver $150 by the end of 2015. We invest 100% in gold and silver exchange traded funds and mining stocks. We feel so strongly we also started a newsletter update service devoted to the subject.
For a 30 free trial of our service go to: http://www.highergoldprices.com/.
Georgejones
Mr O’Brien has turned Newmont around during his time as its CEO. To turn America around in the future money wise we need Mr.O’Brien or Newmont’s young gun Mr.Schummer to get involved in government. They both know money and they treat their employees right and they get 150% out of their employees. Also if Newmont wants to resolve their problem in Sumbawa Indonesia they need to send in Mr Schummer. Why do you ask? For the following reasons.
A-Schummmer worked in Sumbawa and is very well respected by the local Indonesians. Like Obama if Schummer returned to that area he would be able to have fair and open talks with the local and centeral governments.
B-Indonesians do not really care or respect Australians currently working in Sumbawa or from the Perth office dealing with this issue. One Australian left Sumbawa promising the world to both the Senior National Staff with Newmont in Indonesia and local government leaders. The current head Australian in Sumbawa is too busy planning Friday and Saturday night parties. Yes he does speak Bahasa but that doesnt mean the local Indonesian respect him which they do not.
C-Other countries look down on America currently what a better time to send Mr Schummer into Indonesian and win back some respect in this part of the world and who knows maybe the second coming of Camelot will begin.
What do you have to lose Mr O’Brien? It would be good for Newmont and great for America. Is Mr Schummer up to the task? Well I have never seen him fail or give up until the project he is working on is successful.