The China Mineral Company, a private enterprise formed in 2007, sees potential for gold prices to exceed $1,500 an ounce. Rising demand from central banks other entities are driving this increasing price, reports Tad Brooks of the China Mineral Company. “There’s been talk this week of $1,500 and I see that as perfectly achievable,” reports Brooks quoting Arthur Hood.
Gold reached a record price of $1,062.70 an ounce this week as the deepening slump in the U.S. dollar bolstered demand for the metal and many central banks increased their percentage of gold reserves. Demand is particularly high in Asia, where gold is valued as a secure commodity.
Investor Jim Rogers predicts a price of more than $2,000 in the next decade, Brooks reports. A potential doubling of the price of gold would spell great success for China Mineral Company, whose holdings and current position would allow them to expand efficiently to meet such rising demand.
