Gold Price

Is this a new era of rising gold prices? The price of gold has risen sharply in recent times - eg report “Record Bullion Prices” The West Australian March 7, 2009 or 11 March 2009 “UBS tips US$2,500 an ounce for bullion”.

In February 2009, Goldman Sachs JB Were (GSJBW) raised their base price assumption for gold from US$800/oz to US$900/oz based on their opinion that macro-economic circumstances remain the key drivers for the gold price.

As a result, GSJBW have identified the current global conditions as a very positive environment for the gold price and suggest a trading range of US$850-1050/oz for 2009. Others have expressed opinions a gold price of $2000 per Oz. will be achieved.

The double benefit from exposure to gold equities can come from the conversion of earnings to domestic currencies. Whereby in the past a weakening USD has been the primary driver of high gold prices, the USD has been strengthening since mid-July 2008 resulting in gold setting record highs in currencies other than the USD This has included Australia, where the domestic gold price reached A$1533.88/oz (AFR, 19 Feb 2009). See chart above ▲

Disclaimer: This document is not a prospectus or offer information document. It is a summary document only and should not be used to make investment decisions in relation to Golden Century Mining. While all care has been taken in preparation no responsibility is taken by any persons for inaccuracies. This is not an offer to invest. You may wish to seek advice from a financial consultant. Images are for illustration purposes only and are not assets of the company.