The booming Asian market, population growth and increasing household incomes in A10 countries may give in long-term a solid upward momentum to a declining gold prices observed since January 2015. Australia and New Zealand Banking Group (ANZ) released a report predicting the prices of gold may soar to $2,400 per oz. by 2030. Notwithstanding the growing US dollar and negative outlook of investors towards gold purchasing, the projections are positive for the precious metal.

ANZ report stating that “a growing middle class will buy more jewellery” driving the emerging demand up. Following that tendency it is expected that “a larger body of professional money managers will drive investment demand”, mentions the report. And finally on the largest scale, the financial institutions primarily central banks “will purchase more gold to provide confidence in newly floated currencies.”

Gold takes an important place in Asian cultures which dictates the precious metals buying behavior and leads to rising income of a middle class will form the demand required to see those price per ounce in 15 years. And supported by the liberalization tendencies in the financial systems of major Asian countries, deep-yellow bars of glowing metal will be finally hit portfolio of many individual investors in that region.