Resumo de Gold Is Old

GOLD WILL HIT US $ 800, AN OUNCE.

It is History. The price of gold bullion in the year 1980, had surged to US $ 873 an ounce. It was the record highest in the last 25 years.
Some investors buy gold, in these days of inflation, to preserve their purchasing power. It is speculation. Gold price has surged to US $ 590. an ounce, these days which is its record highest since December l987.
It is reliably learnt from informed soures that Gold Bullion price is likely to hit the US $ 650 mark, within the coming three months. Reliable news agency reports that gold bullion may rise to its highest level in the near future. At the beginning of the 21st century gold price was around 250$ an ounce, and it apppeared that it would remain steady for the time being. These hopes have ben belied for the present. The tendency of the investors is to buy Bullion as a safeguard against inflation. The public demand for purchase of jewelery is seen rising. The jewelers therefore have stocked up gold stock to meet with the rising demand. World gold prices may rise to US $ 650 in the next coming months. It will boost its price from $ 585 as the hedge fund managers and other large speculators have increased their net long position in future by five percent.
"There is pressure to raise gold price to from all quarters including some last minute people jumping on the bandwagon" said New York Stock Exchange spokesperson. The world currencies are declining. The investors

therefore purchase more gold as a hedge against declining prices of world currencies. One important reason gold has gained is due to the fact that the bank rates have been increased on and on to stem inflation. Gold may still gain in future on speculation demand which may exceed the production from gold mining companies, all around the world.
Our country is in the danger of losing its position in the rank of gold producing countries of the world. Our gold finds, depleted resources in mining gold within the country are due to lack of exploration. The last decade was a decade of lost exploration. Unless new discoveries are made, reserves for gold under mining would be depleted at the end of this decade. This will mean closure of smelters and refineries and the havoc it will reap on our economy. To reverse this sorry state of affairs and catch-up internal gold production, it is necessary to form a cabinet rank ministry for gold. We have vast highly prospective geology much of which is still largely unexplored. However the need for increased exploration is not the only challenge that has threatened the gold mining process. The aging population and shortage of skilled workers are also worries and a problem.
It is reported that world''s largest hoarders of gold are a few parties from India. The princely states are foremost among them.
It is learnt from reliable sources that pressure to auction 1000 tons of gold is mounting on the IMF. The UNO at the behest of Uncle Sam wants funds to help the third world nations for natural calamities. If this happens to be a reality, there is chance for fluctuations in the prices of gold. Economists hold different views on such an eventuality. Some believe that the gold prices would have no or at the most nominal effect of the auction of 1000
tons of gold. Some say that in the past, when such auctions were held by other nations, it gave rise to higher prices.

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