Bull predicts massive increase in Gold Prices

Gold Prices will climb to $5,000 within two years due to US dollar weakness and significant buying by players in the hedge fund industry looking to preserve the value of their funds.

That is the opinion of New Zealand market trading expert Welles Wilder, who has previously been highlighted by publications such as Forbes and Barron's for his skill in the markets, stuff.co.nz reports.

His belief was revealed by another local trader Oli Hille, who trades in New Zealand's currency markets, and is currently writing a book, which is to be titled Creating the Perfect Lifestyle.

Mr Hille told the news provider: "He implies his call is based on the US dollar becoming weaker and weaker and basically falling out of bed."

The trader learnt of Mr Wilder's opinion on Gold Prices while interviewing him for the book, which also includes an interview with New Zealand's prime minister John Key.

It appears there is a lot of bullish sentiment on Buying Gold outside of the US, with British miner Scotgold Resources' chief executive Chris Sangster telling the Daily Record: "We see the Gold Price staying high in the long term."

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