Gold price predicted to double
Fatprophets.com.au has predicted the price of gold will double in the next few years.
Fat Prophets says "dwindling global gold reserves, combined with increasing demand from India and Japan, will see gold prises rise to $US850 an ounce ."
Fat Prophets director Angus Geddes says "more investors are looking into gold funds and gold mining companies as a way of making money."
"The bull market as we see it in gold is in its early stage," he said.
"It's a slow shift but the tangible signs are there. One thing we have noticed is that some of the big central bank sellers, such as the Bank of England, no longer have really sufficient gold reserves to actually sell, they've already sold those reserves." Geddes says.
You can read more on what is driving this gold bull market at Gold Price News.
Fat Prophets says "dwindling global gold reserves, combined with increasing demand from India and Japan, will see gold prises rise to $US850 an ounce ."
Fat Prophets director Angus Geddes says "more investors are looking into gold funds and gold mining companies as a way of making money."
"The bull market as we see it in gold is in its early stage," he said.
"It's a slow shift but the tangible signs are there. One thing we have noticed is that some of the big central bank sellers, such as the Bank of England, no longer have really sufficient gold reserves to actually sell, they've already sold those reserves." Geddes says.
You can read more on what is driving this gold bull market at Gold Price News.
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