Gold News

Gold Price rising or currencies falling?

A commodities commentator has called into question whether Gold Prices are rising or whether currencies are simply declining.

Nick Barisheff, president and chief executive of Bullion Management Group, said that the recent spike in Gold Price could be down to poor performances from currencies rather than a particularly good one from gold.

He said: "Gold is sort of the anti-currency. A lot of people think the Gold Price is rising, but you could argue that many of the currencies are just declining."

Investors might argue that the matter is irrelevant provided gold's worth increases relative to its currency markers.

Meanwhile, the supply of gold could be set to take a hit with several mine expansion plans believed to be on the verge of being cancelled, reports Mineweb.

The news provider states: "Rio [Tinto] is said to be considering halting some expansion plans and columnist Tim Treadgold of the Eureka Report has indicated BHP may mothball its multi-billion dollar expansion of the Olympic Dam copper-uranium-gold project."

Should these cancellations go ahead, Gold Prices could rise as demand increases relative to diminished supply.

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