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Mining Industry

Mining Industry > Group's Default Discussion > Chinese Gold Rush View modes: 
  • Chinese Gold Rush

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    Chinese Gold Rush

    China's Gold Demand Soars Amid Drop in Global Demand

    By Greg McCoach
    Tuesday, September 1st, 2009

    The time to buy gold under $1,000 is rapidly expiring.

    But you can still squeeze in the door.

    It's already been a hell of a ride. . .

    After sustained growth from $250/oz in 2001, gold prices have been stuck between the $700 - $1,000 level for almost 24 full months. But after a brief near-term pullback (and probably your last, best time to buy under $1,000), I expect gold prices to move higher. . . much higher. . .

    Probably to the $1,250 level at first, then well over $2,500 an ounce.

    After that, there's no telling how high gold prices will eventually climb.

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