Monday, August 8, 2011

Australia Gold: Demand for Bullion at Fever Pitch

Gold-dispensing vending machines? Laws to make it legal tender? John Collett looks at the rise and rise of bullion.

The gold price is hitting record nominal price highs of more than $US1600 ($1450) an ounce, up from about $US300 10 years ago. And most analysts are forecasting the price will rise even higher, and challenge the all-time high of 1980, when it reached $US2400 in today's dollars.

Australia Gold: Demand for Bullion at Fever Pitch