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26/01/2010 00:00 AST
In the coming decade, nobody can stop the rise of gold, that is what the opinion of Owen Hegarty, an Australian expert in mineral resources.
He told a Chinese news agency that gold prices are expected to remain on an upward track in a decade to come despite recent fluctuations.
For the foreseeable future, or at least in this decade, all reasons to buy gold are positive, he said.
Gold is a hedge against inflation and financial and political uncertainty, he said, noting that the world has not come out of the global financial crisis and inflation is looming in major economies, mainly due to their massive fiscal stimulus packages.
As a commodity, the supply of gold, or gold that has been mined, has been declining since 2001.
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Commodityonline
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
(In US Dollar) | Change | Change(%) | |
---|---|---|---|
Gold | 1,332.2 | -8.6 | -0.64 |
Silver | 16.4 | -0.21 | -1.23 |
Platinum | 923 | -9 | -0.97 |
Palladium | 929 | -3 | -0.32 |
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