LOS ANGELES, Nov. 14, 2016 /PRNewswire/ -- The price of gold is about to experience a kind of dramatic upward price pressure that we haven't yet seen in our lifetime.
Three titanic events for the gold industry are going to coincide by the end of 2016, and analysts who've kept a close eye on international gold trends are sounding the alarms in anticipation of the end of the year announcement. The three events are as follows: 1. $3 Trillion Worth of New Gold Investors One-quarter of the world's population that has never before invested in gold is about to begin doing so, and they're armed with $3 trillion in funds. A new law going into effect at the end of 2016 is going to enable Muslims across the world to trade in gold for the first time. The World Gold Council is working with the Accounting and Auditing Organization for Islamic Financial Institutions to create an acceptable standard for Muslims to trade in gold. You may have heard some pretty controversial things about Sharia Law, but what you probably haven't heard is that this law also governs the world of Islamic finance. Under Shariah Law, gold is one of six items which are forbidden from being held on to with the intention of trading at a later date for a higher foreseeable value. What this means is that Muslims can own gold to use as jewelry, for example, but up until now Shariah Law has dictated that Muslims refrain from trading the yellow metal as a commodity.