Gold News

Gold outlook 'stays positive'

An investment company in Australia has said that he believes prices for gold bullion will continue to ride high in the coming months, according to Reuters.

This is despite slight dips in prices over the past few days, with gold failing to reach the lofty price of $1,000 an ounce, which it managed in March, again as yet.

However, in a report issued by Investec, the company stated that economic fears have not yet receeded, especially in the US, so consequently gold could continue to be used as hedge against inflation.

"We believe the overall environment for gold still remains positive over the forthcoming months. The dollar is not expected to rise markedly against the euro given the likelihood of continuing poor US economic data and global inflationary pressures still persist," said the report, according to Reuters.

Bloomberg reported yesterday (April 1st) that demand was particularly high in the jewelry sector in Singapore, which could help to keep prices high.

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