If mining companies don’t step up their game big time, we may see a gold shortage which could spike the metal’s value significantly.
New York, NY (PRWEB) November 16, 2012
Now may be good time to look into gold coin investing. The world’s largest gold mining company, Barrick Gold Corp., has just reported that over 8 billion dollars were spent on mine exploration last year, but only 3 mines were discovered, compared to 11 in 1991. This breaking news comes at a pivotal time when gold is being pushed to the forefront as real money that counters inflation, preserves wealth and profits in the face of global economic instability.
Since the gold market is based on supply and demand, lower supply coupled with higher demand in the future could drive prices much higher. Gold analysts at Gold Coin are projecting at least $2,500 per ounce by 2014. This projection is $750 above today’s gold’s spot price of $1,720 per ounce.
Arthur McGuire, Vice President of Gold Coin says “Finding quality gold mines has become a costly challenge in 2012, and once they’re found, it’s now more difficult to acquire permits, deal with governments, communities and environmental issues. Gold coin prices have increased over 500% in the past decade as investors and central banks flocked to the precious metal as their ideal safe-haven investment. The global economy is still in peril, which is why we believe that demand for gold will remain high. If mining companies don’t step up their game big time, we may see a gold shortage which could spike the metal’s value significantly.”
Gold Coin is North America’s gold coin advisor; they offer experienced and first time investors a free copy of their award-winning Real Money Magazine. To get your free copy of this publication visit http://www.Gold-Coin.com or call 1-800-776-7253.