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Gold may top $1,000 in 3 years

Posted on 17 November 2008

From Business-standard.com: The prices of most commodities are likely to increase in the long run and for different reasons. Gold may climb above $1,000 an ounce in 2011 as global mine output drops, mining costs rise and demand increases, Morgan Stanley said.

“Mining production actually peaked in 2001 and has since been declining,” the bank’s commodity analyst Hussein Allidina said in an interview with Bloomberg television in Singapore. “When I look at the demand side, as income growth accelerates, the consumption of gold for jewellery purposes increases.”…. Full Article: Source


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