Gold prices edge lower as US economy recovers

The global mining industry is booming thanks to the huge appetite of Asian nations, especially China, for natural resources.

For gold in particular it has been a great year. Investors see it as a safe haven and prices went up as much as 14% in 2011 to close around $1,800 (£1,133) an ounce.

But as the economic picture from the US improves, gold prices are starting to edge down. Andre Labuschagne is managing director of Norton Gold Fields and Asia Business Report's Rico Hizon asked him for his view of the gold market.