It’s another reason to have faith in gold for the long haul. These and other bullish factors are still in place and will cause the gold price to rise again.
New York, NY (PRWEB) March 04, 2013
The gold price fell five percent in February, rounding out its fifth month of decline, and prompting many speculators to get out, but the low prices were seen as a perfect buying opportunity by buyers in China, as premiums in Hong Kong were just $1.50 to $1.80 above the spot price per ounce. Chinese buyers found even cheaper premiums in Singapore, a mere $1.20 over the spot price.
India is expected to resume its usual thirst for gold next month. The country released its budget for the fiscal year ending in March 2014, which did not include any further hikes on gold import taxes. Demand is expected to pick up in April, the first month of the new fiscal year and wedding season.
Arthur McGuire, Vice President of Gold Price, says, “The tendency for Asian demand to consistently bounce back is an example of one of the gold bull market factors that are still in place, and don’t seem to be going away anytime soon. China and India have been the world’s biggest buyers of gold throughout the current bull market, a period in which we saw the metal increase in value over 550% in 12 years, and they appear to want to hold on to those positions. It’s another reason to have faith in gold for the long haul. These and other bullish factors are still in place and will cause the gold price to rise again.”
Gold Price (GoldPrice.net) is a leading precious metals advisor since 1992 with headquarters in New York, California, Texas, Utah, New Mexico and Puerto Rico. Gold Price is also a direct gold and silver dealer, specializing in purchasing, selling and trading physical gold and silver bullion bars/coins and certified rare coins. They offer investors a free award-winning gold starter’s kit by visiting http://www.goldprice.net or calling 1-800-767-1423.