Gold News

Gold Price "Could Hit $5000 By 2015"

A LEADING bank has predicted the Gold Price could soar to $5000 an ounce between now and 2015.

Standard Chartered – which has branches across India and China, the world's two largest gold markets – cites limited Gold Mining production and increasing Chinese and Indian demand as reasons why it believes the Gold Price will rise.

It also predicts central banks will "accelerate their net buying programs", and that this too will push the Gold Price towards the $5000 level.

Data published by the World Gold Council on Monday show that emerging market central banks continued to Buy Gold in the early months of 2011

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