Gold Prices Remain High Despite Recent Fall

The outlook for gold is looking up amidst a volatile global market dominated by two major wars and high inflation. The spot price of gold has hovered around $US4,000 an ounce since touching an all-time high of $US5,589.38 on January 28.

Lawrie Conway, head of Evolution Mining, believes the shift in world order will be positive for metal prices. He noted that central banks are moving away from holding US Treasury debt towards gold, which is good news for the precious metal.

Evolution, a major NSW-based gold and copper miner, has exceeded the industry average margin and generated more cash per ounce of gold produced than any other company. The company is expanding its operations in Queensland with the $213 million takeover of Carnaby Resources' Greater Duchess Copper-Gold Project.