Sorry for the delay, another very busy week at the Mint.
Another Finance company in trouble in New Zealand, lots of information available regarding the reasons why we are experiencing these issues both locally and internationally, so I won't spend too much time going over it again.
Suffice to say that Gold is again going through a resurgence as an alternative investment option for strengthening a portfolio, because of the potential growth in the gold price, and also as a hedge against the exchange rate.
We are currently at a 3 week high in the gold price, with strong sentiment during the US holiday ( Labour day) and support in the Asian and European markets. A rise in the oil price on Friday night due to another Cyclone in the Carribean causing concern about the oil platforms in that area has also helped raise the price of gold on the international market.
An earth tremor at the Gold Fields mine ( the largest Gold mine in South Africa) with one person possibly still missing, and a strike at the Lihir Mine in Papua New Guinea have also added to the current movement. Couple this reduction in supply with the announcement that the demand for Gold in India may increase by up to 50% this year and the strength behind the gold price looks like it will continue upward.
Historic find in Mongolia - with only the second Gold artifact uncovered in the homeland of Genghis Khan
