Expert 'not worried' about Gold Prices
A leading commodities expert has revealed that he has little concern over the future of Gold Bullion, insisting the precious metal is returning to popularity.
Commerzbank trader Michael Kempinski believes that while the yellow metal may have recently dipped, its long term future should be secure, particularly as a result of Gold Bullion's attractiveness as a tangible commodity, according to Reuters.
He told the news provider: "Long term, I'm not really worried, I'm sure gold is coming back. It's good to have a healthy consolidation, so that the physical market comes back into line."
Meanwhile, the Economic Times reports that the World Gold Council has alluded to the fact that it expects sales-by-volume at this year's Akshay Tritiya festival in India to exceed the takings from 12 months ago.
The news provider said: "Despite a 21 percent year-on-year rise in per gram gold prices on Akshay Tritiya, the quantity of gold sold this year is expected to be higher than that of last year's."
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