Gold Prices look set to remain stable over the short to medium term, which is good news for those with investments in the precious metal.
According to an expert from one of Australia's largest financial services firms, Pattersons Security, those Investing in Gold can be reassured that it is looking very stable.
Mark Goulopoulos, a senior investment advisor at the company, told the Sydney Morning Herald that larger gold mining companies likely to begin buying up smaller firms to benefit from high prices associated with the precious metal.
"If you watch it the gold price has tried to pull back below $1,100 and every time it receives really strong support to keep it where it is so that looks like it will continue," he told the publication.
"That could support increased activity and opportunities for gold companies in the market."
Meanwhile, Rob McEwen, chief executive of miner US Gold, recently told Mineweb that Gold remains the ultimate currency.
"First you have to appreciate that gold is money," he said on the news provider's Gold Weekly podcast. "Here it is an alternative currency, the ultimate currency because it can't be manufactured the way all the paper currencies of the world are."
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