By Rhiannon Shine
AUSTRALIA: Global insecurity could see the price of gold rise further, delegates at the 25th Diggers and Dealers conference in Kalgoorlie-Boulder have been told.
The annual mining conference kicked off in Kalgoorlie-Boulder today, with more than 1,800 mining heavyweights flocking to Australia's unofficial gold capital.
In his keynote address, former first deputy managing director of the International Monetary Fund John Lipsky painted a picture of global political and economic instability.
"This is a very unusual time and one of great uncertainty," he said.
"The happy news for the gold miners is that in the near term the uncertainty is generally not a bad thing for the gold price."
Financial analyst Tim Treadgold said there was a sense of optimism at this year's Diggers and Dealers that had been absent in recent years.
"Share prices are up, commodity prices are up [and] people are confident deals can be done," he said.
"We've gone through the crisis. It's now a long grind up."