from Kitco NEWS
David Garofalo joins Kitco News on his first day as chief at Goldcorp, one of the largest gold companies. The former Hudbay Minerals CEO says he remains optimistic about Goldcorp for 2016 despite the company’s recent $4.2 billion loss. He will be focused in ‘reorienting the business’ to ensure current projects remain successful. ‘We have a $13 million exploration program that’s focused around existing projects,’ he added. Looking at the gold price, Garofalo said the dynamics have changed now that the Federal Reserve may be holding off on further tightening. ‘The Fed – and I’ve never seen this in my entire career – has done a complete 180…Now they’re very dovish where they were hawkish two months ago.’ April Comex gold futures were last up $13.80 an ounce at $1,234.20.