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Counting the Cost

What is gold really worth?

We look at the fluctuation of the gold price and ask whether it could rise again as demand grows in Asia.

Last Modified: 27 Jul 2013 12:26
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After years of gains, the price of gold is steadily dropping.

From a record high of $1,921.15 an ounce of gold in September 2011, to a 34-month low of $1,180.50 on June 2013, now the price could drop further to $1,000 in just the next three months, according to predictions from Danske Bank.

However, there is a belief that the gold price could in fact rise as demand grows in Asia for the wedding season and religious festivals.

Nick Barisheff, the CEO of Bullion Management Group, explains to Counting the Cost why he believes the gold price could rise to $10,000 in the next 5 to 10 years.

Also on Counting the Cost: Thailand's capital is undergoing a construction boom with malls, hotels and apartments being built right across the city, next on the list for development is a large piece of greenery in central Bangkok where the owners want to build more of the same, but some people are saying enough is enough. As Thailand builds for the sky, we meet the residents who do not want expansion and any cost.

Also this week: In the midst of a crippled economy and tough international sanctions, Iran's Kish Island offers an easier way for businesses to get goods into Iran. There is no tax either. The Iranian government promotes Kish as a business hub for the Middle East, but also as a tourist attraction.

Just like Kish in Iran - free trade zones are seen as a way for nations in in the Middle East to lessen their dependence on oil and gas. It is hoped that international businesses would consider moving to these tax free, lightly regulated zones, creating high quality employment in the process.
 
The Arab League is committed to these zones - in the absence of a customs union which has some way to go before being implemented.

So should free trade zones be promoted? And do they represent a good and safe option for investors?

Watch each week at the following times GMT: Friday: 2230; Saturday: 0930; Sunday: 0330; Monday: 1630. Click here for more Counting the Cost.

Follow Kamahl Santamaria @KamahlAJE and business editor Abid Ali@abidoliverali

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Source:
Al Jazeera
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