A host of global factors mean gold’s price is set to maintain its strength at least for the next six to 12 months, according to an economist from a top Singapore bank.
“The world right now is in a precarious state and gold is due to benefit from this situation,” said Howie Lee, economist at Oversea-Chinese Banking Corporation.
Gold was changing hands at about $1,495 per ounce on Wednesday midday Asia time — having risen nearly $12 on the day. Lee said Tuesday that the metal is set to soon breach $1,500.
Anglo Pacific Group plc (LON:APF) has a 2.5% life of mine NSR royalty on the El Valle-Boinàs/Carlés (‘EVBC’) gold, copper and silver mine owned by TSX-listed Orvana Minerals Corp. EVBC is located in the Rio Narcea Gold Belt of northern Spain.