CITIGOLD’S Managing Director Mark Lynch says gold mining is a great business in these turbulent times.
The Australian Bureau of Agricultural and Resource Economics (ABARE) has predicted the gold price will average around $US910 an ounce in 2009.
The Bureau says the rise is expected to stem from growth in retail investment demand in the form of gold bars, coins and other products, which has grown in popularity in some countries as global economic and financial market uncertainty intensifies.
The ABARE claims towards the end of 2014, the gold price in real terms will fall gradually as world economic growth increases to levels more consistent with its long-term potential.
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