Economist says gold should remain around the $400 level

Thursday, Sept. 23, 2004 | 11:11 a.m.

INCLINE VILLAGE -- Gold prices should hold steady at around $400 an ounce for the near future, according to University of Nevada economist John Dobra.

"I think they will mirror oil prices for a while," the director of UNR's Natural Resource Industry Institute said during the Nevada Mining Association convention.

The association released its new Economic Overview of the Mining Industry 2003 at the convention, and Dobra said gold prices that were up in 2003 and the first half of this year are making a big difference for the industry.

"The price of gold is clearly the star. It makes all things possible. That's so important," he said.

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