It's a confluence of events, all these things are coming together to create further concern in the market. We'd expect oil to continue to rise and breach the old high of 70.85 over the next quarter.
More Quotes from Greg Canavan:
You've got U.S. senators involved, you've got questions about how much the Australian government knew, and I think when it gets to those sorts of levels it spooks investors quite a bit.Greg Canavan
We would not be surprised if gold advanced beyond 600 a ounce during 2006.
Greg Canavan
It's becoming a broader story than first thought.
Greg Canavan
When farmers own 70 per cent of the company, a government decision that reduces their income is not going to go down too well.
Greg Canavan
Most of the rise in 2005 was in the final quarter of last year, where the gold price hit 17-year highs. We think it might get to US650 this year.
Greg Canavan
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