Gold News

Gold bullion has a 'wonderful, wonderful' outlook

A top investment manager has explained today (November 21st) that the outlook for gold in the coming months is particularly rosy, Bloomberg reports.

Some market commentators have been only too eager to put the boot in on the yellow metal in recent weeks as the dollar has staged a rally and oil prices have slumped.

However, Evy Hambro, who runs the BlackRock Investment Management's $5 billion World Mining Fund, has claimed that now is a perfect time to be investing in gold.

She told the news provider: "Looking at gold today, it's just a wonderful, wonderful outlook.

"Demand has been very strong [and production] is going to be down probably three per cent this year and probably five per cent next year.''

Gold bullion would appear to be retaining its appeal as an alternative investment to the dollar and a hedge against inflation, despite some industry figures citing deflationary fears.

As Gerry Schubert, a London-based director at Fortis, Belgium's biggest bank, explained to Bloomberg, physical gold appears to be "following the stronger euro", while higher oil prices "are having a positive effect".

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