The Australian government have recently announced that gold prices could average 8% more in 2011, reaching $1320 an ounce. This is due to a hike in investment demand due to risks linked to economic growth across the globe.
In 2011 experts suggest that the gold price could peak before heading into a decline, in real terms at about $975 an ounce in 2013 increasing to $1064 in 2016. These figures have been released from the Australia Bureau of Agricultural and Resource Economics and Sciences.
In the report Abares said: "The assumption of world economic recovery over the next few years is expected to lead to a reduction in speculative investment demand. The appetite for higher risk assets such as shares and property is likely to increase."
In the last month the gold price climbed up by 5.7% to a huge $1408.07 an ounce. As investors looked to protect their wealth against currency debasement bullion rose 30% last year also.
Forecasts for the future indicate that world mine production could increase 2% to 2703 metric tons this year. The mine output in Australia could increase by 14% to 274 tons as Newmont Mining Corporation's $3 billion development in Boddington, Western Australia is under way.
Despite the recent predictions of the gold price increasing, gold companies still maintain protection plans. Many gold companies now sell other metals such as silver and copper which are by-products of gold mining to cover financial stability. Selling these by-products helps counter the cost involved with mining gold.
There are some large gold buyers in the UK who offer the public a better price for their scrap gold in comparison to high street jewellers and pawn shops. With gold prices increasing in 2010 this has resulted in members of the public receiving large cash sums for gold they send in to these mail-in gold buyers. With the recent recession, there has been a hike in the use of such gold companies by the public, with many saying they sell their gold to protect their financial security or to pay for household bills they cannot afford. As these gold companies accept a diverse range of gold and silver, they are applicable to a vast majority of the population. Customers can send in anything from an antique watch to a gold dental tooth with things like gold coins in between.This is an innovative and easy way to sell any unwanted gold and receive some money in return.
In 2011 experts suggest that the gold price could peak before heading into a decline, in real terms at about $975 an ounce in 2013 increasing to $1064 in 2016. These figures have been released from the Australia Bureau of Agricultural and Resource Economics and Sciences.
In the report Abares said: "The assumption of world economic recovery over the next few years is expected to lead to a reduction in speculative investment demand. The appetite for higher risk assets such as shares and property is likely to increase."
In the last month the gold price climbed up by 5.7% to a huge $1408.07 an ounce. As investors looked to protect their wealth against currency debasement bullion rose 30% last year also.
Forecasts for the future indicate that world mine production could increase 2% to 2703 metric tons this year. The mine output in Australia could increase by 14% to 274 tons as Newmont Mining Corporation's $3 billion development in Boddington, Western Australia is under way.
Despite the recent predictions of the gold price increasing, gold companies still maintain protection plans. Many gold companies now sell other metals such as silver and copper which are by-products of gold mining to cover financial stability. Selling these by-products helps counter the cost involved with mining gold.
There are some large gold buyers in the UK who offer the public a better price for their scrap gold in comparison to high street jewellers and pawn shops. With gold prices increasing in 2010 this has resulted in members of the public receiving large cash sums for gold they send in to these mail-in gold buyers. With the recent recession, there has been a hike in the use of such gold companies by the public, with many saying they sell their gold to protect their financial security or to pay for household bills they cannot afford. As these gold companies accept a diverse range of gold and silver, they are applicable to a vast majority of the population. Customers can send in anything from an antique watch to a gold dental tooth with things like gold coins in between.This is an innovative and easy way to sell any unwanted gold and receive some money in return.
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