Gold News

GFMS chief predicts gold price will hit bull run

The head of a London-based precious metals research firm explained yesterday (September 8th) that he is optimistic that gold prices will rise steadily over the next three to five years.

Speaking at a seminar at the three-day Denver Gold Forum, Paul Walker, chief executive officer of GFMS, claimed that gold could make advances to over $900 or $1,000 per ounce.

He stated that the main driver of his view was a number of macroeconomic factors which are working to the advantage of gold and could see it maintain a high level for a sustained period of time.

"I am still bullish on gold," he said.

Mr. Walker also explained that gold bullion would have a crucial role to play if demand for the yellow metal begins to cool at any point over the stated period.

He added: "The physical market matters tremendously over the next three, four, to five years."

In addition, Mr. Walker said that he expects the hill that gold has to climb in terms of returns to become steeper in the future, at which point people investing in gold now should sell to maximise their profits.

Mr. Walker's bullish sentiments are also shared by Jim Rogers, the co-founder of the Quantum Fund and creator of the Rogers International Commodities Index (RICI).

He explained in a recent speech in Bangkok that a combination of cooling mining supplies, refiners taking a hard line with sales and buyers being tempted in to the market amidst the current correction are all beneficial for gold prices in the long-term.

To Buy Gold today, avoiding wide spreads and storage costs – but still owning your physical Gold Bullion Investment outright with full legal title – be sure to visit BullionVault and claim a free gram of gold now...


See all articles by Gold Bug here.

Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.

Follow Us

Facebook Youtube Twitter LinkedIn



Market Fundamentals