Good article from ABC on gold, hopefully some positive news is on the horizon and it could be happy times for holders.
Cheers Aussie
Gold companies are enjoying a bull run on local markets, with $3 billion in market value added to the sector last week alone, according to Paterson Securities.
"In terms of multiples ... we're still seeing gold as good value within the ASX," said Ryan Armstrong.
The collective market capitalisation has increased by $8 billion to $26.6 billion in the past three months.
Despite gold prices and miners having rallied so much over the past year, gold bugs are making even more bullish predictions for the precious metal.
"Gold could not only reclaim $US1,800 to $US2,000 an ounce but actually move substantially higher," said Jordan Eliseo.
"I think we're going to see a repeat of the 1970s, which would see gold prices move in today's terms to at least $US3,000 an ounce and with downward pressure on the Australian dollar the Australian dollar gold price could go substantially higher."
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