Recently the price of gold has softened slightly due to three factors:

The strengthening of the US dollar, slower than expected economic growth in China and a potential decline in gold demand in India.

EzyCash Gold Buyers keeps a close eye on the price of gold so they can give you a top cash price for your unwanted gold.  Bring in broken gold, scrap gold, gold jewellery and more to their store in Panmure, Auckland.  With their knowledge of the price of gold and the gold market, they can give you an expert valuation on your gold and a top cash price.

Despite the US experiencing high levels of debt and a generally gloomy economic outlook, the dollar continues to strengthen.  This is partly due to a slowdown in China’s economic growth which in turn has put commodity prices (such as the price of gold) under pressure.  And when the price of gold goes down, the US dollar often goes up, and vice versa.

China is the world’s second largest consumer of gold.  Earlier this year the Chinese government downgraded it’s growth expectations to about 7.5% and with the economy slowing down, this will decrease China’s ability to buy gold.

India is the only country that tops China in its demand for physical gold but economic factors also look to curb their population’s desire for gold.  They have recently proposed to lift gold import duties to 4%.  This will no doubt have an impact on the demand for gold jewellery if the import tax on gold is lifted.

At time of writing the price of gold was hovering at around US$1648 per troy ounce.

Things are looking positive for the silver market with silver retailers reporting a consistent increase in the price of silver year after year.  In fact, jewellers in the US had an increase of 25% in sales of silver jewellery in 2011.

Bring in your unwanted gold or silver to EzyCash Gold Buyers in Panmure, Auckland and help to pay off debt when you receive a top cash price.

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There are many factors that are affecting the gold price.  While the price of gold was once scaling the heights US$2000 per troy ounce, it is now hovering between US$1500 and US$1700 per troy ounce of gold.

The US dollar, the Eurozone crisis and the demand for gold in huge economies such as India and China all has an affect on the price of gold.

But now, according to Feng Shui experts, the Chinese Year of the Dragon is destined to affect the price of gold as well.

Feng Shui is an ancient art and science developed over 3,000 years ago in China.  The belief is that the land contains energy and the quality of that energy can ‘make or break a kingdom’, or so to speak.

The Straits Times in Singapore interviewed experts about the influence the Year of the Dragon would have on business around the world and the gold price specifically.

The experts said that not only is this the Year of the Dragon but that the particular breed of dragon that will be ruling over us is the Black Water variety.  And that means trouble, especially for the price of gold.

Water will be the dominant element this year and will overwhelm the earth element, which represents a bad year for industries represented by earth.

This includes property, construction and insurance as well as mining and precious metals.  So the price of gold is destined to fall in 2012.

But if the financial year is looking volatile, fear not, as you can use the power of Feng Shui to combat it.  One website is selling Feng Shui gold bars – a symbol of wealth that will activate wealthy energy.

The gold bars have the dragon image carved into them and have ‘PURE GOLD’ and ‘999’ engraved on the top.

However we wouldn’t recommend bringing the gold bar into EzyCash Gold Buyers in Panmure, Auckland for an evaluation – the ‘gold bars’ are actually 100% copper and are gold dyed.

So to attract wealth instantly, bring your real gold (broken gold, scrap gold, unwanted gold) into Ezy Cash Gold Buyers and receive a top cash price.

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