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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

Gold to drop to US$1300

Posted on 26 March 2013

In what could be good news for the jewellery industry; after increasing for 11 consecutive years, the price of gold is set to drop to US$1,300 an ounce, according to a new report. The Australian Government Bureau of Resources and Energy Economics March 2013 Quarterly Report suggests the price of gold has begun its steady decline.
In 2012, the gold price averaged US$1699 per ounce (in 2013 dollars), a 5 per cent increase relative to 2011. By the end of 2012 the average price of gold had increased for 11 consecutive years; however, 2012 was the lowest average annual increase in the gold price over this period, the report stated………………………………………..Full Article: Source


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