Hold on to your jewellery and consider getting into river panning because the price of gold is forecast to double in the next 15 years.
Growing wealth across Asia, particularly in China and India, will fuel demand for the precious metal and send its value soaring, a new study from ANZ predicts.
ANZ's report `East to El Dorado: Asia and the Future of Gold' says the price of gold could exceed $US2,400 per ounce by 2030, more than double its current value of around $US1,100.
"Asia's rise will have profound implications for the gold market," ANZ chief economist Warren Hogan said.
As incomes rise across Asia, so will the appetite for gold rings and necklaces, the report predicts.
Gold holds cultural significance in China and India, where high-quality gold jewellery is considered an ideal gift for weddings in the hope it can bring luck and happiness.
"A growing middle class will buy more jewellery," Mr Hogan said.
Difficulty in obtaining gold in China and India in the past also adds to the allure, the report says.
The Chinese government has a history of nationalising gold stores, while in India gold imports were largely banned until 1990.
Developments in money management practices in Asia, and rising demand for diverse financial products, will also help fuel demand for gold, the report says.
"A larger body of professional money managers will drive investment demand," Mr Hogan said.
"And regional central banks will purchase more gold to provide confidence in newly floated currencies."
"These factors will support a long term and significant increase in the gold price."
ANZ's report predicts annual gold demand from 10 key Asian countries - including China, India, Japan, Indonesia and South Korea - will double from 2,500 tonnes to 5,000 tonnes.
Australia produces 266 tonnes of gold a year, the second largest after China, so local gold miners should benefit from the value of their wares rising.
"The higher the gold price goes, the more economical some perhaps marginal gold mines become," ANZ's commodity strategist Victor Thianpiriya said.
"With demand expected to go the way that we think - there's a lot of scope for Australian gold miners to capitalise on that."
A climbing US dollar, which gold is priced in, has dampened investor demand for gold so far in 2015, Mr Thianpiriya said.
But he said investors still see gold as a safe haven during periods of share market and economic decline.
"One things that's never changed for the gold market in the last 30 or 40 years is its safe haven appeal," he said.
"Most of the time you don't want to pay for it. But if you need it, you're glad you have it."
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