Gold News

Current Gold Prices are a 'bargain' for long-term investment

Jeffrey Nichols has suggested today (May 14th) that making a long-term Gold Investment at current prices represents a "bargain", the Daily Telegraph reports.

Gold has been trading narrowly above the $900 per ounce mark in recent weeks after failing to find suitable support to sustain its move above four figures in February.

However, Mr. Nichols, managing director of New York-based firm American Precious Metals Advisors, has explained that investors should move to Buy Gold now as prices are set to soar.

He told the newspaper: "From a long-term perspective, gold is a bargain at recent prices in the $900 to $930 an ounce [range] … and will remain so even as it begins to move into a higher trading range.

"First and foremost, the bullish outlook for gold rests on the increasing likelihood of accelerating US inflation in the years to come and an associated unprecedented rise in investor demand for the yellow metal."

The view that a period of inflation is set to engulf global economies - working to gold's benefit - was also expressed last week by Walter de Wet, an analyst at Standard Bank, the largest bank in Africa.

"People who are bullish on gold would probably see this as a time to buy because, if indeed the recovery is close, we might see inflationary pressures creeping in sooner rather than later," he told Reuters.

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