Gold Price Holds Firm at Over $4,000 Amid Global Shift

The outlook for precious metals like gold is improving due to global changes and inflation. The spot price of gold is hovering around $US4,000 an ounce, after reaching a record high of $US5,589.38 in January.

Lawrie Conway, head of Evolution Mining, told the Diggers and Dealers Mining Forum that the shift in the world order will be positive for metal prices.

The long-term average consensus for gold pricing has more than doubled to over $US4,000 an ounce since two years ago, when it was around $US1,800 an ounce. Copper prices have also increased by 40% to $US5.90 per pound.