Gold News

Gold Bullion market to enjoy 'sustainable rally'

Gold Bullion investors received a boost yesterday (March 12th) after a senior figure at Marquest Investment Counsel predicted a strong comeback for the yellow metal.

Gold Prices pushed through the $1,000 per ounce barrier towards the end of February but have since dropped back as some investors look to take their profits from short positions.

However, Gerry Brockelsby, a founding partner of the Toronto-based firm - which managed around $286 million as of September 2008 - believes a lengthy resurgence is on the cards, Gold Investing News reports.

He told the news provider: "This market has the potential to finally put on a sustainable rally."

Those sentiments were also expressed recently by Donald Doyle, chairman and CEO of Blanchard and Company, who predicted that gold buying will remain strong as governments continue to print money to tackle the economic downturn.

"The fact that major investment banks like Morgan Stanley are forecasting inflation and even admitting the possibility of hyperinflation in the years to come suggests that investors will continue to increase their safe-haven buying of gold," he told Mineweb.

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