China=based Sino-Sud Resources reported a year end annualized gold price increase of over ten percent in spite of a major correction earlier in the year.
Guangzhou, China, January 02, 2012 –(PR.com)– On Friday December 30, the final trading day of the 2011, the benchmark gold contract for February delivery rose 25.8 U.S. dollars and closed at 1,566.9 dollars an ounce, up 1.74 percent. For the calendar year, gold prices have risen by 145.38 dollars an ounce, or up 10.19 percent. But after the major correction in the fourth quarter, growth in prices is lower than the 29.62 percent gained in 2010.
In early 2011, gold prices rose steadily, carrying on the momentum of the bull market in the previous year. As the political uncertainty in the Middle East and North African countries continued, investors flocked to safe-haven assets including gold. As oil prices surged as well, investors were also buying up gold as a hedge against inflation. The increasing sovereign debt crisis in Europe also reinforced risk-aversion among investors.
Since mid-year, investors have been increasingly worried about a potentially destabilizing default by the U.S. Fed on its debt as its leaders were engaged in bitter partisan fight over increasing the country’s borrowing limit. Such strong stimuli fueled the risk-aversion tendency in the market to the peak. Investment funds poured into the gold market, pushing gold prices to an all-time high of $1,923 per ounce on September 6.
This press article contains forward looking statements. Past performance does not guarantee future results. This article does not constitute any part of Sino-Sud Resources’ annual report, prospectus, offering memorandum or any other document required for Security Commission compliance. Sino-Sud Resources makes every effort to ensure the accuracy of the contents of its articles. There may be errors, omissions, technical or typographical errors for which the company assumes no responsibility. Sino-Sud Resources does not guarantee, warrant or make any representations regarding the accuracy, usefulness, validity, reliability or completeness of the information contained in this article. Sino-Sud Resources will not be held liable for any direct or indirect damages including, but not limited to, negligence by employees or persons working under contract for the company.
Investors should never rely solely on the information contained in this article. The information contained in this article is not a substitute for independent professional guidance. Advice should be acquired from an investment advisor who has the authority to trade in Sino-Sud Resources securities. Duplication, re-transmission or modification of this article, either electronically or otherwise is strictly prohibited without the express permission of Sino-Sud Resources. An official copy of this article can be obtained by sending a self addressed envelope to Sino-Sud Resources, Level 54 Guangzhou IFC, No.5, Zhujiang Road West, Guangzhou 510623 PRC, China. Please use our contact us form on the companies official website at sinosud.com for any other enquiries.
+8620 2889 3190