Gold News

Top Fund Manager Sees Gold Prices "Rising Every Year"

Gold Prices will not fall after the recent rise and gold will continue to gain value says a leading fund manager and analyst.

His comments come after the Gold Price dropped 5% last week from all time highs.

"Gold has been up every year since 2001 in 10 currencies," says Chris Beer manager of RBC Asset Management Inc, which has 18 million customers in over 54 countries.

"I can't see why we couldn't get to an inflation-adjusted price of $2,000 per ounce. The fundamental factors affecting gold seem to be in place."

His views are supported by a new report from Austria’s Erste Bank. Currently some 0.8% of all global financial assets are invested in gold, gold shares, and ETFs, it says. In 1932, the depth of the great depression, the allocation was 20%, and in the last Gold Price bull market at the beginning of the 1980s it was 26%.

If a total of 2% of all global financial assets were allocated to gold today, the additional demand would amount to about 85,000 tonnes. That's equal to the total global Gold Mining output of almost 34 years.

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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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