PRZOOM - /newswire/ -
Point Roberts, WA, United States, 2005/12/20 - Gold-MiningStocks.com Reports – As Gold Prices Fluctuate Economist Predicts “Gold prices could reach $850 per ounce”. Projected decline of the U.S. dollar, deregulation in Asia, likely to pressure the price upward..
Gold-MiningStocks.com (GMS) an investor and industry news portal for the gold-mining sector, reports that a gold price per ounce of $850 is entirely possible in the months ahead. And gold exploration juniors are having trouble finding qualified personnel and equipment.
Martin Murenbeeld, chief economist of the Dundee Group of Companies with a specialty in gold, has no trouble believing the price of gold will reach $850.
He projected a decline of the United States dollar against the Euro and the Asian currencies. Other causes include the impending retirement of the baby boom generation; a need for re-deploying foreign exchange reserves in OPEC and Asian countries; deregulation; and growing personal riches in Asian countries.
Analyst Lawrence Roulston, editor of the newsletter Resource Opportunities, pointed out in an InvestorIdeas.com interview recently that the gold mining industry in general is producing about 80 million ounces of gold a year and it’s a challenge for the large mining companies to replace that many ounces.
The onus for replacing that gold is on the exploration juniors and one of them, Terry Tucker, president of Vancouver-based Strata Gold Corp. (TSX:SGV) says his firm is having trouble locating and hiring available drillers and drill equipment, as well as engineers to research and provide resource estimates.
Article Excerpt: Gold prices could reach $850 per ounce By John Hurst, Gold-MiningStocks.com December 2005
Gold prices may achieve historic highs in the coming months, aided by a decline in the United States dollar, only marginal increases in mine production and a steady deregulation of gold buying in the major Asian countries. This puts an estimated 2,000 junior gold exploration companies in an excellent position to attract increasing investment dollars from the major gold producers.
“The small companies,” Roulston said, “have always been the most successful explorers and generally, in any industry, it’s the small companies, the entrepreneurs, that make the discoveries and the innovations. A lot of the best mine-finding talent in the industry is in the hands of the juniors and there was a big move, from the majors to the juniors, back in that quiet period when the gold price was down and the big companies cut their exploration budgets.
The GMS website does not make recommendations, but offers a unique free information portal to research news, exclusive articles, interviews, investor conferences and a growing list of participating public companies in the Gold sector.
About GMS Featured Client: (GMS is compensated as disclosed in disclaimer)
Running Fox Resource Corp. (TSXV: RUN; OTC.PK: RFXRF) Gold and Energy Stock - A Canada based gold and natural gas resource company with the high-grade Brett Gold Project in British Columbia, and drilling horizontal natural gas wells on 28 Sections in Pincher Creek Gas Field in Alberta, Canada. The Brett Gold Project now covers 20 square kilometers, with exploration work of more than $4,000,000, including 172 drill holes.
Gold-MiningStocks.com, a portal within the InvestorIdeas.com content umbrella, offers investors research, news, blogs, RSS Feeds, conferences and links to public companies within the mining sector.
Investor Incite Newsletter
InvestorIdeas.com free "Investor Incite" Newsletter consists of company and industry updates, investment research and developing trends in key areas such as Homeland Security, Renewable Energy, Nanotechnology and more.
Our sites do not make recommendations, but offer information portals to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of of our websites. This site is currently compensated for by its “featured company” - Running Fox Resource Corp (OTC.PK: RFXRF) One thousand dollars per month.