The chief executive of Canadian gold miner Kinross Gold Corp. said on Monday he was "very bullish" on gold and saw the possibility for significantly higher prices.

"My view is the U.S. dollar is going to weaken in the near term and the medium term... and that's why I think there is some potential for significantly higher gold prices," Chief Executive Tye Burt said, speaking at the Reuters Global Mining and Steel Summit in New York.

Spot gold was quoted at $643 an ounce on Monday. It rose to a 26-year high last month at $730 on investment buying largely fueled by uncertainty over the dollar's outlook.