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Article: Higher gold prices to boost Maaden results.(Financial report)
- Article from:
- TradeArabia (Manama, Bahrain)
- Article date:
- October 28, 2009
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Byline: Manama
State-controlled minerals firm Saudi Arabian Mining (Maaden) expects high gold prices to be a boon for fourth-quarter results, the company's chief executive has said.
"I think the results will be positive because of the high gold price," Abdullah Dabbagh said on the sidelines of a mining event in Bahrain when asked about his outlook for fourth quarter earnings, although he declined to say whether it would beat the same quarter last year.
Spot gold prices hit a record high earlier this month at just over $1,070 an ounce.
Investors have used gold as a safe haven during the financial crisis and economic downturn.
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