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Gold Investment looking positive for 'many, many years'

Joe Foster from Van Eck Associates has suggested that Gold Investment is poised to remain strong for the rest of this year and throughout 2010, according to the Gold Report.

The yellow metal has performed well in recent months as investors seek a safe haven amid the economic crisis and position themselves for a possible spike in inflation in the months ahead.

Now Mr. Foster has explained that he has a particularly "favorable" outlook for Investing in Gold as a "new phase" of the bull market which has been running since 2001 has arrived.

In an interview with the news provider, he said: "The credit crisis, everything that's happening to the global economy, and the reaction of the governments and the monetary authorities set up a very, very positive environment for gold, not only in the near term, but going out many, many years."

Those sentiments were echoed recently by Aaron Regent, CEO of Barrick Gold, the world's largest gold mining company, who predicted that economic worries and declining supplies will keep gold investment demand strong.

Speaking at the Reuters Global Mining and Steel Summit in New York, he was quoted by Reuters as saying: "I think that gold as an attractive asset class is continuing to grow."

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