Gold News

Gold Investment "Will Push Price Above $1,300"

Gold Investment could push prices to higher than $1,300 an ounce in the second half of this year according to the chairman of a major research company.

“Gold Investment will remain the principal driver of prices this year, with a breach of $1,300 in the second half a strong possibility,” said Chairman Philip Klapwijk of GFMS Ltd in slides prepared for delivery at a Beijing conference on Wednesday.

Klapwijk won the 2009 price forecasting competition held by trade-body the London Bullion Market Association, correctly predicting last year's average price for both gold and silver.

The previous peak in Gold Bullion prices came at $1265 an ounce, climbing 10% for this year so far, as investors sought to protect their wealth from prolonged financial turbulence in Europe, as well as concerns that the global recovery may slow.

This same motivation for Gold Investment may push prices higher again. Although, at present, investors are choosing to Buy Gold due to the recent dip in Gold Prices.

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Roy Peel is working as a research assistant at BullionVault, the world's No.1 gold and silver ownership service for private investors.

See the full archive of Roy Peel articles.

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