A leading industry analyst has suggested that Investing in Gold is as attractive as ever, even if Gold Prices have not accelerated as expected.
Jeffrey Nichols, senior economic advisor at US precious metal investment specialist Rosland Capital LLC, believes that while 2009 forecasts of $1,500 per ounce had not been met so far this year, gold remains an attractive proposition, reports Commodity Online.
Even in the unlikely event of Gold Prices falling below $1,000 per ounce, Mr Nichols believes the precious metal is still worth investing in.
He said: "I think it very unlikely that gold will ever again fall below $1,000 an ounce and, if it does, this would be a great buying opportunity for long-term gains rather than a reason to turn bearish on gold-price forecast."
Mr Nichols' assertions that gold continues to offer an investment opportunity are backed up by comments made by Wong Eng Soon, an investment analyst at Singapore's financial services provider Phillip Futures Pte Ltd, who said that Gold Prices could well rise.
Wong told Reuters: "It seems that the economy is improving and ... commodities will be able to appreciate as a whole."
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