Thursday, 28th April 2005 (3504 views)

Latest figures from GFMS have shown that consumers are happier to pay high prices for gold now.

Figures from the 37th edition of the GFMS annual survey of the gold market showed that jewellery fabrication from new gold increased by ten per cent in 2004.

"Gold heading for the $500 mark no longer looks fanciful," executive chairman, Philip Klapwijk, explained to Mineweb.

According to the analysts, gold investment went up towards the end of the year, with gold investment vehicles a key driver.

Among the vehicles set up were ETFs launched by the World Gold Council (WGC) and Barclays.

Consumers appeared to become increasingly comfortable with prices above $400 last year, with average prices up by 13 per cent as a result.

 

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