Gold News

Report offers bullish gold outlook

A new report has suggested that gold prices have a "positive" outlook ahead.

The latest gold publication from Resource Capital Research (RCR) suggests that the yellow metal is on track to hit the $1,000 an ounce mark within the next six to 12 months - which could be good news for those currently holding gold investments.

RCR also indicates that the fundamentals for gold bullion are set to "remain strong" over the next two years as a result of waning gold mining production, which has been declining since 2002.

The prediction tallies with recent reports of falling gold production in a number of countries. Earlier this month, the US Geological Survey said that while the value of mined gold rose in 2007, the actual amount extracted suffered a decrease.

Meanwhile, Reuters recently reported Mali expects to see a 12 per cent plunge in gold production in 2008.

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