Gold News

Reasons for Gold Investment 'remain intact'

A senior figure at UBS claimed yesterday (April 8th) that the fundamentals underpinning Gold Investment are still very much in place, Bloomberg reports.

Gold Prices have cooled since reaching a high of $1,007 per ounce on February 20th, just a shade short of the all-time peak of $1,033 per ounce, which was achieved last March.

Some commentators have since questioned its investment appeal but John Reade, head metals strategist at the Anglo-Swiss bank, has explained that a number of factors are still supporting the yellow metal.

He told the news provider: "The reasons why investors bought gold - fears of longer- term inflation and currency debasement - remain intact.

"[Once gold prices have stabilized] we expect bottom-fishers to begin the next cycle of investment."

That view was also expressed last week by Mark Johnson, a fund manager at USAA - which manages around £900 million worth of assets - who explained that inflation looks sets to return in an emphatic manner.

"What the governments do in response to recession is very positive for gold on the investment side," he told the news provider.

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