PI Financial mining analyst Christos Doulis says six years ago when the financial crisis was in full swing, safe-haven buying made gold skyrocket. Today, the fear component is down, as is the price of gold.
The 2014 Interim Gold Report published by the GFMS team at Thomson Reuters states that gold prices are likely to bottom out between $1,170/ Oz and $1,200/ Oz in 2015, 10% lower than the 2013 average prices.
The China Gold Congress is currently in full flight in Beijing. The three day Congress is China’s biggest gold industry event of the year, drawing in participants from across the Chinese and international gold sectors including central banks, mining companies, bullion banks and refiners.