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Shocking Gold Report: Prices to Soar as Producing Countries Limit Global Supply
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News18•11-10-2026, 17:39
Shocking Gold Report: Prices to Soar as Producing Countries Limit Global Supply
- •A new report by Nikkei Asia reveals that several gold-producing Asian countries are changing their strategies to retain maximum benefits from their natural resources.
- •Nations like Laos are developing domestic refining capacities, while Indonesia is imposing heavy export taxes to keep gold within local markets.
- •Central banks are increasingly buying gold domestically to diversify reserves and reduce dependency on the US dollar amidst rising geopolitical tensions.
- •Goldman Sachs has predicted that international gold prices could reach a staggering USD 5,000 per ounce due to tightening supply.
- •India, which imports 80 percent of its gold, could face higher prices and reduced market availability, significantly impacting local consumers and investors.
Key Questions Answered
Resource nationalism refers to national control over natural resources, where gold-producing countries seek to retain a larger share of income, develop domestic refining systems, and secure resources locally rather than sending all raw materials abroad.
Laos is developing its domestic gold market and refining capacity through initiatives like the Lao Bullion Bank, while Indonesia is imposing heavy taxes on gold exports to encourage domestic market sales and build national reserves.
Goldman Sachs expressed the possibility of a rebound in gold prices, predicting that international market prices could reach $5,000 per ounce due to changing supply dynamics and continued buyer demand.
