JSE-listed Gold Fields new CEO Nick Holland could "easily see" the gold price returning to levels above $1 000/oz, as economic woes in the US continue, he said on Friday.

He also said that surging costs that were affecting the industry could also prop up the price of the yellow metal, which had already "moved into a new band".

"I do think that the issues with the US economy are not over yet," Holland said in an interview.

"I think there could be further interest rate cuts in the US, and that economy certainly is moving into negative real interest rates."

"And that is an indication of the malaise that is currently under way in that economy," he added. "That, I think, would be positive for the gold price."

Investors traditionally invested in gold as a safe alternative investment to the dollar or the US economy.

Holland, who replaced former CEO Ian Cockerill on May 1, said that the supply-demand fundamentals also bode well for gold.

"I could see gold easily going through $1 000/oz," he stated.

The price of the yellow metal stood at levels of about $875/oz on Friday, after having broken through the $1 000/oz barrier earlier this year.

"I could also see the rand staying at, or even going weaker than these levels, so certainly we can see higher gold prices to offset this [surging costs]," Holland said.

"The gold price both in terms of dollars and rands has moved into a new band."

"And if you look at the all in cost of production for the gold industry it's probably around $700/oz, and that tells me that it's unlikely that we're going to see gold going below that," detailed Holland.

"And certainly, if you look at the rand price, the all in costs of the industry in South Africa is probably around R180 000/kg or R190 000/kg, so it's also hard to see the rand gold price going much below that level in the future," he concluded.

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