How gold’s value is assessed differs from other metals, and not just because of its safe-haven status. “If you think about copper or iron ore, you can complete some level of fundamental analysis. What’s the expected demand globally? What’s the forecasted supply coming out of mines and maybe even recycling?”, explained a former senior executive from Newmont. However, gold’s price can experience short-term fluctuations driven by investors and institutions, and, added to this, “because gold does not degrade with time, most of the six billion ounces that have been mined over the last 7,000 years are still with us and in the form of jewellery, bars and coins.”
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