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City AM: George Soros wrong on gold

LONDON, 1 Feb. 2010 ? Analysis from BullionVault ? the professional gold service for private investors ? today features in a challenge to billionaire hedge-fund manager George Soros's comments that "gold is in a speculative bubble."

"George Soros is wrong to say that gold hasn't got much higher to go," says an editorial in City AM, the free newspaper distributed and widely read across the City of London.

"If governments continue to flood the system with money" ? something which Soros himself also urged at the World Economic Forum in Davos, Switzerland last week ? "surely this will fuel the gold price's rise even further..."

Adrian Ash, head of research at, notes in the City AM report that "The gold price rises when interest rates don't rise in line with inflation." And Rozanna Wozniak, investment research manager at the World Gold Council, adds that "Central banks continue to buy gold and industrial demand remains strong.

"People are not willing to recycle gold because their perception has changed ? they no longer think that if they sell it now they can buy it back at a cheaper price in the future."

You can read the full report, with more of Adrian's comments on the gold-price outlook, at City AM's website...

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City AM