Gold News

Dip in Gold Prices offers 'buying opportunity'

Gold Prices may be in the midst of a short-term drop but that presents investors with an opportunity to buy the precious metal, according to some analysts.

Bloomberg reports that analysts remain bullish on the long-term prospects of Investing in Gold, despite the recent fall in prices.

Dennis Gartman, a US-based economist and editor of the Gartman Letter, said that gold is the "only metal we would wish to be long of" at present.

"In a deflating environment, we needn't own platinum, nor palladium, nor silver. Only gold endures," he added, indicating that Gold Prices are likely to continue climbing in the long-term.

Indeed, while Gold Prices have fallen slightly in the short-term, many investors around the world remain interested in the precious metal as an asset, Hindu Business Online reports.

Furthermore, it pointed to the belief held by many analysts that recent reductions are more due to low confidence over the global economic recovery rather than the commodities themselves, which have performed well throughout the entire of 2009.

This indicates that the fall in Gold Prices may only be temporary and could actually present an opportunity for investors to Buy Gold.

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