Gold News

Gold Investment 'remains strong'

A leading industry analyst has suggested that conditions remain good for people wishing to Buy Gold.

Evy Hambro, of Blackrock Gold & General Fund, said that a number of important conditions had come together recently to create the positive trend in Gold Prices, according to the Daily Telegraph.

He told the newspaper: "The recent new all-time high in the price of gold seems to have been caused by the convergence of a number of important drivers.

"Falling mine supply, weaker US dollar and the potential for a reduction in net central bank sales will all support prices over the medium term."

Mr. Hambro went on to say that the "key factor" was the demand for Gold Investment, which she insisted remained strong, according to the World Gold Council.

Bill O'Neill, from Merrill Lynch Wealth Management, recently told the Times that ongoing credit risk, the strength of commodities and the weakness of the US dollar would contribute to an increase in the price of gold to $1,500 per ounce over the next year.

He said: "Although the gold price may be volatile in the short term, the long-term trend is upwards, and investors should take advantage of any dips to increase their holding."
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