Gold News

US investing in Gold ETFs

Investors Buying Gold have poured large amounts of money into gold exchange-traded funds (ETFs) and could carry on doing so as the precious metal continues to perform.

According to one expert, Gold Bullion has recently hit soaring price highs and, despite a subsequent dip, will continue to offer investors great value in the long term.

William Rhind, strategic director at ETF Securities USA, told Barrons Online: "There has been a gradual appreciation in assets through high prices and low prices."

He continued, noting that such a situation has come about because investors are buying gold as a "long-term strategic asset" and so, are not looking to immediately sell.

Fred Jheon, managing director of product development at the firm, agreed with his colleague, and was quoted by the publication as adding: "I'm bullish on gold and gold ETFs."

Jeffrey Nichols, managing director of American Previous Metals Advisors, will likely feel the same way.

Speaking to the Daily Telegraph, he suggested gold could continue rising drastically in price throughout next year, so long as the underlying economic conditions remain for gold to prosper.

"Looking ahead to 2010, don't be surprised to see gold at $1,500 or higher by the end of the year," he said.

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