China is important, I think other emerging economies are just as important. India as well. There is demand and supply, and I think Gold will always be the safe haven for investment.
China's stock market crash was big news. But lost in the headlines was the commodities rout.
Everything from copper to oil, cotton to sugar has been hit. And unlike stock markets, commodities have an impact on everyday lives. From farmers to miners to consumers to governments, lower prices mean less money and fewer jobs.
Gold is often seen as a store of wealth in uncertain times. But right now, has tumbled below $1,100 an ounce to a five-year low. So what is behind the fall?
With economic growth around the world slowing and expectations of a rise in US interests by the end of the year, the dollar is strengthening - making gold less attractive. This has led some to predict that gold prices could fall to as low as $750 an ounce - a far cry from its peak of $1920 during the financial crisis.
Mark Connelly, the non-excutive chairman of gold and copper exploration company West African Resources, joins Counting the Cost to discuss the fallout from the falling prices.
Source: Al Jazeera