Wednesday, 27th October 2004 (2874 views)

South African deputy reserve bank governor Ian Plenderleith has been issuing advice to gold players and reminding them to promote the precious metal's positive points.

Mr Plenderleith explained that "provided we take advantage of the opportunities, the gold market has a long and fruitful role to play in the future".

In an address to members of the London Bullion Market, the governor claimed that gold's value concept should be offered in a more constructive way and that jewellery demand potential should be recognised.

According to Mineweb, gold jewellery production continuously beats mining production.

There is a strong demand from four main areas for gold according to Mr Plenderleith - jewellery, financial investment, monetary asset and industrial applications.

 

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