Peter Munk is the founder and chairman of the company's largest gold miner in the world, Barrick. Peter is now 82 years old, has spent three-fourths of her age or around 60 years in the gold mining industry, so the opinion that he would express an opinion rather than just anyone.
Here is a summary of the opinion that the master of the world gold:
· People used to assume that the most secure investment that can be done in modern times people are investing in shares of UBS Switzerland, but because of this assumption is investing billions of dollars wiped out by the crisis that has engulfed.
· A large and small are now hard to answer a simple question: Is there a safe place to invest in this era who did not lose because of it?. Because no easy answer to this question, many people make gold as a safe haven - a safe haven for investment.
· Gold which last month reached U.S. $ 1,000 / oz; indeed it is possible that for a while this price is the price that has a height (inflated) - meaning that this price is likely to be corrected down temporarily as happens these days.
· But the opposite also can occur. Because the gold market is a relatively small market in the world, if there is some central banks the world or one instance the UAE central bank does not believe that Obama's efforts to rescue the American economy will be successful, then the central bank was changed (in part) its reserves from U.S. $ to gold - then some of the decisions of this kind would simply toss the world gold price to a value above U.S. $ 2.000, -.
· Economy of the world could have been recovered, but the trauma or feeling unsafe investments in shares / securities will likely continue - meaning safe haven of gold still needed.
· Other opportunities when the economy recovers is a need for people to jewelry will rise. Because of this jewelry industry represents 58% of world gold demand - see my article dated 26/02/2009 - the resurrection of this jewelry industry would significantly increase world gold demand - which also means higher prices.
On the basis of the opinion of Peter Munk with his experience in the gold industry of 60 years, plus the points mentioned above - then I tend to agree with Peter this - that there is no upper limit of the price of gold, meaning that gold prices could rise to any number - although not Nobody knows exactly when this could happen.
I agree with the opinion is also consistent with price statistics Dinar last 40 years that I present based on data from the Kitco gold price as the graph above.
So the price of gold / Dinar currently 'relatively low' might be down again in the near future, but the factors that will push it up (back) also did not lose much. Allaah knows best.
