As mining becomes more difficult and expensive, expect gold prices to increase.
New York, NY (PRWEB) November 14, 2012
Gold is about to experience a whole new level of rarity. Today, a report from Barrick Gold Corp., the world’s largest gold producer, has announced that last year, exploration costs topped a whopping $8 billion and only 3 new gold mines were discovered, compared to 11 found in 1991. Not only is it more difficult to find quality gold mines, but once they’re found, it now takes longer to obtain permits and deal with governments, communities and environmental issues. As a result, Gold Price financial analysts have projected that the gold price will rise to $2,500 per ounce in the next 2 years.
Arthur McGuire, Vice President of Gold Price says “It’s no surprise that gold demand continues to increase while supply continues to decrease. This news comes at a critical time in history when many investors are turning to gold as their ideal safe-haven profit and wealth preservation tool. As mining becomes more difficult and expensive, expect gold prices to increase.”
McGuire adds “Our financial analysts are projecting gold at $2,500 per ounce in the next two years because exploration will only get more difficult and once mines are found, permits and regulations will be a hassle to obtain. Gold is currently headed towards its 12th consecutive annual gain, and we believe this trend will continue as long as gold demand stays high and supply dwindles.”
Gold Price (GP) is a leading precious metals website since 1992. They offer investors a free award-winning gold starter’s kit by visiting http://www.GoldPrice.net or calling 1-800-767-1423.