Gold News

Gold Prices will 'overcome any short-term drops'

The value of Gold Bullion will rise in the future despite comments made by GFMS chairman Philip Klapwijk following the release of its 2010 Gold Survey.

That is according to Yuill Irvine, managing director of UK-based financial advisor, Dunedin Independent, which has a wealth management division that controls £400 million ($610 million) of client funds.

Writing for the Scotsman, he said a growing number of wealth managers are recommending that investors put at least ten per cent of their portfolio into Buying Gold.

"Other professional soothsayers remain bullish principally as a result of some strong indications that the central banks, traditionally net sellers, have re-emerged this year as net purchasers," Mr Irvine added.

Speaking to Reuters, Viennese entrepreuneur and founder of the Superfund hedge fund Christian Baha, suggested demand from India and China will drive both hard and soft commodities in the long-term.

"Since I invested in physical gold and silver the price has more than tripled. Everyone should have in their savings precious metals because it's something that can protect you very well from inflation or crashes," he told the provider.

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