Gold Prices could soon exceed all-time high

Gold Prices could soon overtake the current all-time record of $1,225 per ounce, it has been claimed.

According to David Levenstein, the Gold Prices in euros and sterlings have both risen to new heights in recent times, and the greenback looks set to continue its ascent.

Writing for Mineweb, the investment expert, who has traded in Gold Bullion for over 30 years from the US, UK, South Africa, and Hong Kong, estimated that the yello metal is currently five percent under its all-time dollar high.

Mr Levenstein highlighted the current volatility in the economic markets as a reason for the projected increase in demand for gold, as investors look to protect themselves.

"In this kind of environment, it is prudent to protect some of your assets with gold," he said.

"The best way to do this may be by owning the physical metal, especially as there is more talk about the lack of physical gold and silver being kept in the various depositories."

The long-term prospect of rising Gold Prices if something about which Jeffrey Nichols, senior economic advisor at Rosland Capital, is confident.

Speaking to Bloomberg, he said that despite any short-term volatility on prices, gold continues to exhibit a "strong rising uptrend" that will see it reach $1,500 by the end of the year.

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