Gold price may break $1,300 and rare Iron Age gold found
David Wilson, head of metals research at Citigroup, says that he thinks the gold price should break the coveted $1,300 mark by the end of the year.
The “Trump reflation trade” should reverse and subdued real interest rates, coupled with moderating dollar strength, could provide “positive momentum” for the gold price, Wilson told Bloomberg TV.
He also spoke of political forces, notably the European elections in France, Germany and the Netherlands, and their ensuing effects on the future of the EU, something we have covered here. Wilson also noted the purchase of 63 tonnes of gold by ETF investors, with a market value of
In the mining world, Acacia mining reported that they have discovered a ‘multi-million ounce’ gold stream in Western Kenya. The FTSE 250 company already has six drill rigs on site, and plans to spend £9.7m on the project.
In other news, some of the earliest examples of Iron Age gold have been found in Staffordshire. Two metal detectors discovered three collars and one bracelet-sized torc, an extremely rare find.
They will be declared treasure at a coroner’s inquest on Tuesday and will then go before a specialist valuation committee to determine the price, which will be shared between the landowner and the finders.
Older examples of ancient gold, such as torcs from the Bronze age, have previously been valued at around £150,000.
Link to this article: : http://www.goldmadesimplenews.com/gold/gold-price-may-break-1300-and-rare-iron-age-gold-found-13000/