Gold News

Gold Investment remains long-term game

Buying Gold should be viewed as a long-term prospect, according to a leading industry figure.

Suki Cooper, precious metal analyst at Barclays Capital, insists that Gold Investment will reap rewards in the long-run, even if short-term prices retract slightly, reports the Daily Telegraph.

She told the news provider: "The reasons that people began to buy gold in March 2008 … are no longer in place and inflation [another reason to buy gold] is still some way off.

"It wouldn't surprise me if we had a little correction in the gold price but our position remains stay long. In terms of technical trends the prospects for gold look strong."

Assertions that the yellow metal will continue to offer investment potential finds support from comments made last week by Tocqueville Gold Fund manager John Hathaway, who said that the perception of gold to the average investor had changed.

He said: "The pace of the bull market has quickened. Further buying by central bank institutions underweighted in gold seems like a good bet," according to Mineweb.

Mr Hathaway went on to say that he believed the US Federal Reserve - the "watchdog of the dollar's purchasing power" - no longer appeared unhappy with rises in the price of gold.

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