Gold News

'Good prices on the horizon' for gold

Investors in gold are once again looking to increase their portfolio as prices for the precious metal look set to rally, reports the Times of India.

Experts believe that following a period of stabilization, the market will see an increase in prices soon, due to a decline in the equity market.

Religare's country head of commodities Jayant Manglik said that he predicts a good future for gold prices as a hedge against inflation.

"In the current global scenario gold is looking good with a horizon of 12 to 18 months. I expect to see about 15 to 20 per cent increase from current [price] levels this year, on account of the weak US economy, which will not recover overnight," he said, according to the Times of India.

Gold futures rose on Monday (April 7th) after crude oil jumped above $109 a barrel, prompting investors to buy the metal, according to the Associated Press.

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