Gold News

Gold Investment to continue 'over economic uncertainty'

Quantitative Commodities Research analyst Peter Fertig claimed on Friday (July 3rd) that the uncertainty over the future of the economy is leading investors to Buy Gold.

The yellow metal has performed particularly well since the start of the global financial crisis, offering a store of wealth when most other assets were floundering.

Mr. Fertig explained in an interview with Reuters that despite cautious talk of green shoots, Gold Investment is on the rise because there is little real conviction that the corner has been turned.

He said: "This is typical of the situation which you get when the economy is bottoming out: the data is mixed, there is no clear trend and you have questions about the pace and sustainability of economic recovery leading some investors back into gold."

Last week, respected gold columnist Lawrence Williams predicted that gold prices will continue to strengthen in the remainder of 2009 amid the sentiment outlined by Mr. Lertig.

Writing on Mineweb, he concedes that gold has struggled to stay above the magical $1,000 per ounce mark when it has broken, but adds that it could be a different story next time four figures are reached.

"It does seem to be a not unreasonable prospect to see gold continuing its climb later in the year, even if stuttering a little at the moment," he wrote on the website.

"Sooner or later, we feel, the $1,000 barrier will be breached and once through that it may well stay there for the foreseeable future."

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