The current gold bubble has lasted nearly 12 years, and with demand still high and supply falling, we don’t see it ending any time soon.
New York, NY (PRWEB) November 15, 2012
Supply and demand is about to make gold a lot more rare. A recent report from the world’s largest gold producer, Barrick Gold Corp., has stated that last year, gold mine exploration costs reached over $8 billion and only 3 mines were discovered, compared to 11 mines in 1991. Not only are gold mines becoming scarce, but it’s now more difficult to acquire permits, deal with governments, communities and environmental issues.
This news comes at an important time in US history when investors are rapidly purchasing gold to protect their wealth from a weakening dollar. Financial analysts at America’s gold coin superstore, Gold Coin, project that gold prices will continue to increase as demand skyrockets and supply dwindles.
Arthur McGuire, Vice President of Gold Coin says “This is breaking news for gold investors because it means that the precious metal will soon experience a whole new level of rarity. In the past decade, gold coin prices have increased over 500%, far outperforming most traditional investments. The current gold bubble has lasted nearly 12 years, and with demand still high and supply falling, we don’t see it ending any time soon.”
McGuire adds “Lately we’ve been seeing gold projections forecasting $5,000 and $10,000 per ounce in the coming years. Although we don’t like to speculate that far, our financial analysts believe that $2,500 per ounce is very reasonable by 2014.”
Gold Coin is North America's gold coin superstore. They buy and sell all types of gold, silver, and platinum coins with free delivery directly to your door. For more information or a free "Gold Coin Starter Kit", visit http://www.GoldCoin.net or call 1-800-425-5672 today.