Asset manager bullish on long-term gold price prospects
A senior figure at Benchmark Asset Management has explained today (December 3rd) that he is bullish about the long-term prospects for gold.
Sanjiv Shah, executive director of the firm, which is the investment manager for Liquid BeES, noted that gold prices have been volatile in November as people have sold assets and moved to the US dollar.
However, in an interview transcript published on Moneycontrol.com, he expressed his belief that now is a good time to be investing in gold as the price will rise in 2009 and 2010.
He said: "The general view in the system is that people will move towards gold as a way to protect themselves against what's happening in the world economy.
"There is a huge view in international markets that gold prices will see an uptrend in the next year or two."
Mr. Shah's comments were corroborated recently by Evy Hambro, who runs the BlackRock Investment management's $5 billion World Mining Fund.
She explained that investors have been looking to buy gold and diversify their portfolios in recent months, not least because global supplies appear to be falling.
"Looking at gold today, it's just a wonderful, wonderful outlook," she said.
"Demand has been very strong [and production] is going to be down probably three percent this year and probably five percent next year.''
Investing in Gold? For the cheapest, fastest & most secure route to solid Gold Investment simply register for a free, no-obligation account at BullionVault now...