Bullion Bargain Hunting in India and Asia Boosts the Gold Price, Reports Gold Coin
The almost five months of waning gold prices have triggered an increase in demand from emerging markets looking to take advantage of lower prices, reports America's Gold Coin Superstore, Gold Coin.
New York, NY (PRWEB) February 26, 2013
The gold price rose for the second day in a row on Tuesday, closing in on the $1,600 per ounce mark after rising 1 percent to $1,586.60 on Monday. Gold has seen falling prices ever since October, when it closed at just over $1,800 per ounce. These lower prices have driven up emerging-market demand for the precious metal. According to the latest trend report from the World Gold Council, India, one of the world's most prolific gold bullion buyers, hiked up demand, as did China, which is seeing more physical gold investors reemerge after the Lunar New Year holiday. Low gold prices have also attracted the interest of emerging-market central banks, which made significant purchases in January:
- Russia: 12.2t
- Turkey: 10.3t
- Kazakhstan: 1.5t
- Belarus: 0.5t
Arthur McGuire, Vice President of Gold Coin, says, “We have been experiencing increased demand in our offices, as more and more American investors begin to take advantage of the current low gold price. We're seeing many smart investors buying gold coins and bullion now, as many signs point to higher prices in the near future. Gold's correction may have scared a good deal of investors away, and may have caused many banks and other financial institutions to reconsider their price forecasts for this year, but the truth is, the fundamental economic factors that have sent gold skyrocketing on its 550% rise over the last 12 years are still in place. Dwindling supply, devaluing currencies, economic uncertainty, political instability; all of these have boosted the gold price, and will continue to do so in 2013. With the looming threat of hyperinflation that is all but inevitable after reckless money printing, gold is set to rise soon.”
Gold Coin (GoldCoin.net) is America's gold coin superstore with over two decades of experience advising household investors on smart physical gold and silver investments and gold coin IRA and 401k plans. They buy and sell all types of gold, silver and platinum coins and offer 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.
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