Gold price trends are changing at a very rapid pace. The latest news that has come out in the market, tells us that the Newmont is going to take over the Canadian Gold Miner Miramar for the whooping $1.53 billion dollars.  It is believed that the chief asset of Miramar is the huge gold area near the Hope Bay area. This area mainly lies in the Nanavut territory that is located in Canada. You must know that the Newmont is paying $153/oz for each ounce of gold which it is going to acquire.

There is a decline in the mine production of gold in the latest years that is why various major gold area owners want to add important deposits to their already piled up gold resources.

You will see that the price of gold depends wholly on the US elections, because the elections will decide about the exact prices.  It is being observed that the Gold Price should reach its highest level around 2nd quarter of year. It has been also seen that the present price should return to the $1,000 level in the up coming days. If all goes well then they expect to see some positive changes in the price level of gold.

The present price trends have indicated the end of Central Banks capacity to lower down the gold price. Or better put: ‘manipulate the gold price’. The banks should try to capture the gold that is owned by the jewelry buyers.  It has been seen that most of the stores in India are now purchasing costume gold jewelry and jewelry stores in China are purchasing bulk silver and palladium.

The central banks should by now realize that now it is of no use to sell off gold in the market as the present economy level is going downhill.

According to the latest news that has come out it has been seen that T. Subbarami Reddy, the Indian Union State Minister for Mines has stated that India will stop the import of diamonds and gold within the next ten years.

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