Observers said it is likely to touch the $2000 mark this year as it was seen as the perfect answer for inflation and hyper inflation which is gripping most parts of the world.
NEW DELHI : Gold's value climbed nearly ninety times in the last hundred years as it climbed from $20 an ounce to $1777 an ounce.
Observers said it is likely to touch the $2000 mark this year as it was seen as the perfect answer for inflation and hyper inflation which is gripping most parts of the world.
They said 2012 looks a momentous year for gold and expected to increases in the price, investments, and production.
The yellow metal provides easier liquidity than most other investments last year and expected to repeat it this year as weel, they added.
On investment scenario, gold's appeal brightened last year as stock market and other financial markets stayed volatile throughout last year.
Meanwhile, Australia produced 270 tons of gold last year to remain in second position after leader China in gold production.
China, world's top producer topped the table with 361 tons in 2011 and is planning on producing up to 400 tonnes of gold in 2012.
Aussie gold production increased by 24 tons from 2010. The United States with a production of 230 tons remained at the Third spot last year.
Russia's production of 200 tons earned it the fourth position in rankings in 2011. Countries all around the world have been producing gold at a increasing rate throughout 2011.
No comments:
Post a Comment