YUP.... Good ol' Aussie experts tell it like it is!!!!! And we...

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.