Gold Mining Company is going to increase the prices of gold, silver, platinum, palladium and palladium metal and other mineral to attract more investors to its gold mining business.
The company, which is owned by Hong Kong’s sovereign wealth fund, the Hong Kong Investment Corporation, has already announced that it will raise its prices by an average of 10 percent over the next two years.
The increase is likely to be a reaction to the government’s new plan to sell off its gold reserves.
The price of gold has fallen from $1,100 per ounce to $1.10 per ounce over the past year, and the government has recently begun selling off the gold it has in its gold bullion bank.
In December, the government announced it would sell off all of the company’s gold reserves at a cost of 1 trillion yuan ($1.08 trillion).
“We will be offering a 25 percent increase in the price of our gold products, which we are already charging in advance, and we will be increasing the amount of gold we buy and selling our gold reserves,” Gold Mining CEO David Lau told Reuters.
“We are trying to keep up with demand.
We want to keep our price steady and maintain our gold stock.”
The company has been investing in gold mining since the 1990s, and is one of the top mining companies in the world.
Its operations in the United States are mainly located in Wyoming, New Mexico, Montana and Utah.
The firm was founded in 1998 by billionaire investor George Soros.
Soros and his wife Miriam have been mining gold since their childhoods.
“I think that the gold market has become an attractive investment for us,” said Lau.
“In the past, I thought of the stock market as a safe haven.
It’s been an incredible experience for us.
We’re excited to expand our operations in China and the United Kingdom.”