YUP.... Good ol' Aussie experts tell it like it is!!!!! And we pay these people's salaries..... AnnaP
Gold price reaches five-year high
The price of gold has jumped again, this time reaching a five-year high.
Gold is trading at more than $US337 an ounce, after rising by about $4 overnight on the back of global uncertainty.
But the latest jump is at odds with a prediction by the Australian Bureau of Agricultural and Resource Economics (ABARE) that the price of the precious metal will fall below $US300 an ounce next year.
ABARE's Andrew Maurerr says fewer investors will turn to gold as a safe-haven asset.
"With a bit of a rebound in world economic growth and we see a reduction in the war risk premium, we see investors moving out of gold and back into equity and derivatives and other currency markets and so forth...and that will remove a lot of the financial demand for gold," he said.
