January 27, 2010 / 1:37 PM / in 10 years

Barrick chairman sees upward gold trend intact

DAVOS (Reuters) - While the gold price may be volatile, its upward climb is not over, the chairman of Barrick Gold Corp (ABX.TO), the world’s biggest gold producer, said on Wednesday.

“It may fluctuate, (but) to us and I think to our investors, the key criteria should be that it’s got a secular tendency now to move up year in and year out, Peter Munk told Reuters Insider television from the World Economic Forum in Davos.

“While it may trade off in the two-week or three-month period, I think the trend is here to stay.”

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