Gold News

Current Gold Prices are 'good buying opportunity'

A senior figure at Heraeus Metallhandels GmbH claimed today (July 1st) that the current market situation represents an excellent opportunity to Buy Gold, Bloomberg reports.

Investors are viewing Gold Price movements with great interest at present, particularly as more pressure was applied to the dollar after higher-than-expected job cuts in the US last month.

Now Wolfgang Wrzesniok-Rossbach, head of marketing and sales at the firm, has explained that the yellow metal will be looking "cheap" if it falls to $925 per ounce.

He told the news provider: "There's a bit of bargain-hunting. The overall picture hasn't changed - there's still enough threat around the global economy that should be positive for gold."

Those comments come after Robin Bhar, an analyst at Calyon - Credit Agricole SA's investment banking unit - revealed last week that he expects gold to hit record highs later this year.

"Gold can spike towards an all-time high this year and that would be because of the weaker trend in the US dollar and ongoing stimulus measures," he said in an interview with Bloomberg.

"We do expect rising inflation expectations, which should be positive for commodities and particularly gold."

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