KITCO NEWS - Gold prices are likely to stabilize this year, creating a new foundation for higher prices, but not for the reasons most would think, this according to Yamana Gold (AUY) CEO Peter Marrone. 'I believe what influences the gold price...it's more history than it is economics,' he told Kitco News' Daniela Cambone on the sidelines of the BMO Metals & Mining conference. 'Supply and demand clearly are important factors to it but a lot of it is also what goes to that emotional side as well.' Because of this, Marrone said he isn't too 'fussed' about with what will happen to interest rates or the U.S. dollar, two factors that have negatively affected the gold market.
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