GOLD PRICE IN THE WORLD MARKET HAS READJUSTED AND MAINTAINS THE PREVIOUS PRECIOUS VALUE WITH MINOR FLACTUATION.

Gold price in the world markets has readjusted and maintains its precious value with minor flactuation, due to the world's current recession at the price of about $1,349.00 an ounce . The earlier prediction made on the price of gold for the year's end estimated at around $1,400.00 an ounce has shrank to $1,400 dollars an ounce than the previous predicted price of $1,600 for the year's end and early next year. This attained stability on the value of the precious metal may be attributed to the Western countries recent strict monetary and financial policies that entailed new bank regulations on loan allocation, budget deficit reduction and the Western countries insistance on the revaluation of the undervalued Chinese currency the yuan, besides the increasing mining cost at many gold mines.

Written by Godfrey Ohia.