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Gold Net Australia Online Magazine
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GOLD COMMENT - HOME PAGE
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GOLD COMMENT - October 2005 |
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VIP's SHOW OFF THEIR GOLD IN ADELAIDE |
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ADELAIDE INTERNATIONAL AIRPORT OPENING.
Courtesy: World Gold Council.
The VIPs were out in Adelaide yesterday to kick off the opening of the city's new airport terminal.
Around 600 guests showed up to the event that featured performances from singers Teresa La Rocca and Andy Seymour.
Fashion models abounded wearing their most glamorous jewellery. Many wore pieces from designer pure ENVY.
One in particular wore an 18-carat white-gold necklace with a 2.5 carat diamond. It was valued at AUS$20,000 (US$15,000).
Speaking about the terminal, event sponsor Anthony Toop, said: "It's gone from zero to hero overnight. It is quite awesome and the artwork is something all South Australians will be very proud of."
NELSON'S GOLD TIME PIECE FETCHES €400,000
Courtesy: World Gold Council.
Lord Nelson's gold pocket watch, worn at the Battle of Trafalgar, was yesterday sold for €400,000, making it the most expensive ever piece of Nelson memorabilia.
Joseph Emergy, a royal watchmaker, created the timepiece in approximately 1787. Prior to being auctioned off, it was on display at Greenwich's National Maritime Museum to which it was loaned by Nelson's ancestors.
The London auction took place at Sotheby's and the gold watch was just one of the pieces of history up for grabs.
Also sold was a gold and diamond cane Nelson had received from Zante following the battle of the Nile, which went for €220,800, while a Lemuel Francis Abbott portrait of Nelson fetched €299,200.
In total, the various pieces of Nelson memorabilia, many of which belonged to Nelson's sister Kitty Matcham, were sold for €4.65 million
INDIAN DEMAND SET TO RISE
Courtesy: World Gold Council.
Gold demand is set to rise in India ahead of the festival season.
Industry experts have predicted that gold imports will rise, following an uncertain period due to the precious metal's record prices.
If prices fall sufficiently low then there could be an even larger increase in Indian gold buying, an official told Reuters.
India has experienced a good monsoon resulting in a prosperous harvest, which is a strong indicator of robust gold demand.
World gold trade is partially influenced by the strength of the Indian monsoon, as India is the world's largest market for gold.
In the first six months of 2005, India consumed 508 tonnes of new gold, which represents a rise of 57 per cent on last year's figures.
GOLD DEMAND GROWS STRONGLY
Demand for gold jewellery has experienced phenomenal growth in the fiscal year 2004-5.
In fact gold consumption grew by an amazing 21% - which also reflects a 24% rise in dollar value of gold, in just one year.
The emerging economies of Asia are driving gold consumption strongly - while Europe and the USA remain somewhat stagnant.
In the fiscal year to June 2005 - gold jewellery sales topped US$38 Billion.
It is well to consider that several respected gold commentators are indicating that before the end of 2005 the gold price is expected to top US$480.
Others are expecting as high as US$500.00 per ounce.
NOW IS THE TIME TO BUY....
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