Gold News

Gold Investment to push commodity prices to new highs?

Gold Prices could reach new highs during 2010, provided the surrounding market conditions are conducive to sector growth.

That is according to Philip Klapwijk, executive chairman of GFMS, the London-based precious metals research and consultancy firm, who suggests that the Bull Run could continue throughout this year, according to the Financial Times.

He told the newspaper: "We sense there is a large amount of money poised to enter the gold market in 2010."

Mr Klapwijk, who predicted Gold Price rises in September of last year, went on to say that while Gold Investment could push up prices this year, the level of such rises would be closely linked to the US dollar.

He added that the continuance of the Bull Run could well be "bumpy" as a result of the gold market's "dependence" on investment.

Mr Klapwijk's assertions are backed up by comments made recently by industry analyst Evy Hambro, of Blackrock Gold & General Fund, who believes market conditions are still attractive for people looking to purchase the commodity.

He told the Daily Telegraph: "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."

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