Gold News

'Long-term inflation fears' could buoy Gold Investment

Gold Buying could be set to rise after a prominent figure at Lind-Waldock claimed on Monday (July 20th) that there are widespread fears over long-term inflation.

Although trade in the yellow metal is traditionally muted in the summer months, the huge debts accumulated in response to the financial crisis have raised question marks for the future of the economy.

Now Daniel Pavilonis, senior market strategist at the futures and commodities broker, has explained that Gold Investment could prove popular if the concerns of his customers prove to be true.

He told the Wall Street Journal: "More people are calling up to open accounts. They see inflation over the horizon going into next year."

Meanwhile, Richcomm Financial Services analyst Pradeep Unni suggested last week that the reasonably quiet recent trading in gold is simply a precursor to a strong price increase.

In an interview with Bloomberg, he explained that two of the most significant drivers of the yellow metal - the US dollar and oil prices - are likely to bolster it in the coming months.

"Gold is steadily ticking higher and recent dollar weakness and the gain in oil prices are favoring the move," he told the news provider.

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