Global Apparel Market – An Overview | Watch NOW! | Ad
Home / Knowledge / News / Fashion / Robust global demand brings spark to gold prices
Robust global demand brings spark to gold prices
19
Mar '08
The gold price fixed above the 'symbolic' $1000.00/oz mark reaching $1,003.50 at the London PM fix, after sailing through previously uncharted territory since the start of the year. On 3 January this year the gold price reached $865.35/oz, breaking the $850/oz record set momentarily back in 1980.

The rise translates to an annual increase of more than 52 per cent on the average price in March 2007, which sat at $655.89/oz.

Moaz Barakat, World Gold Council's Managing Director for the Middle East, Turkey and Pakistan commented: “The gold price has continued to surge forward on the back of strong investor sentiment reaching the $1000 mark, much quicker than even many bullish analysts had predicted.

“We are seeing encouraging recent trends particularly in the investment sector, in a number of the world's key gold markets as investors take 'flight to quality' in the face of the credit squeeze and ongoing financial turbulence.

Global events, including a falling dollar and rising inflationary fears, have combined with strong gold market fundamentals to create positive conditions for the gold price.

Whilst the rising and volatile price has been a highly positive trend for those already holding gold, it has posed a short term problem in regard to consumer purchases of jewellery, gold bars and coins, acting as a disincentive to some buyers.”

Investment demand for gold reached an all time quarterly record of $8 billion in Q4 2007. Over the year total demand for gold reached an all time high of $79bn. Today's $1000/oz record follows a sustained rise in price over the past six years.

The World Gold Council identified the following short term reasons for the recent gold price rise:
• Inflationary fears as a result, in particular, of high oil prices. Gold is seen as a hedge against inflation; while its real value can vary in the short term, its purchasing power has remained stable over centuries.


Must ReadView All

Courtesy: Pexels

Textiles | On 19th Sep 2018

Punitive PRC tariffs on US goods has extra 5% on textiles

Responding to Washington’s latest duty increase in a dispute with...

Courtesy: Tecnorama

Textiles | On 19th Sep 2018

'Reliability & excellent quality are Tecnorama’s USP'

The complete reliability and excellent quality of Tecnorama systems...

Courtesy:  Stanislav Kondratiev on Unsplash

Apparel/Garments | On 19th Sep 2018

AAFA questions US tariffs on $200 bn Chinese goods

The American Apparel & Footwear Association (AAFA) has questioned...

Interviews View All

Darshan Mehta, Infinium Polychem

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Amardeep Singh, Orient Craft

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Himanshu Jariwala,

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Harmeet Singh,

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Umang Banthia,

Umang Banthia

Established in 2005, SL Banthia Textiles manufactures coated fabrics....

Silke Brand-Kirsch, Schlegel und Partner GmbH

Silke Brand-Kirsch
Schlegel und Partner GmbH

<div>Schlegel und Partner is the market research and consultancy company...

Ray Baughman, University of Texas -Dallas

Ray Baughman
University of Texas -Dallas

<div>A team of scientists and researchers have discovered twistrons,...

Robert Erichsen, Statex Produktions & Vertriebs GmbH

Robert Erichsen
Statex Produktions & Vertriebs GmbH

Statex Produktions &amp; Vertriebs Gmbh, founded in 1978 and headquartered ...

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search