Gold News

Dips will see people 'very excited to Buy Gold again'

A senior figure at MKS Finance claimed today (December 9th) that bargain-hunters could look to make a Gold Investment after the price drops of the past few days.

The yellow metal's seemingly unstoppable rise was halted at the end of last week on positive US jobs data and has struggled to recover the momentum it held previously.

However, Bernard Sin, head of currency and metals trading at the Geneva-based bullion refiner, explained that Gold Buying will occur on such lulls as the longer-term trend is positive.

"We might see bargain-hunters coming into the market. We could see some people very excited to get back into gold. If you're seeking a safe haven, people will buy gold on dips," he said in an interview with Bloomberg.

A similar outlook has been expressed by David Thurtell, an analyst at Citigroup, which is the one of the world's largest financial services companies.

He explained last week - when gold hit an all-time high of $1,227 per ounce - that any dips are likely to be temporary as investment inflows will keep the metal well supported.

"Gold continues to push higher and is surging like there is no tomorrow. Investor demand remains strong with spurts of profit-taking," he said in a new report quoted by the news provider.

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