Gold News

Future of Gold Prices 'looks positive'

A senior figure at Investec Australia has claimed today (June 17th) that the future prospects for the Gold Price appear to be rosy, Reuters reports.

The yellow metal has been on the slide since reaching a recent high of about $900 per ounce, with investors seemingly undecided over whether to buy or sell.

However, Darren Heathcote, head of trading at the firm, explained that a falling dollar - which moves in the opposite direction to Gold Prices - will remain its key driver.

He told the news provider: "I think ultimately, unless we see some kind of negative fallout again from the financial sector, the hopes are good for a continued recovery in metal prices and gold to benefit further."

A similarly optimistic view was outlined last week by Walter de Wet, an analyst at Standard Bank, the largest bank in Africa.

He explained that gold has seemingly overcome its downside potential below $900 per ounce, something he described as an extremely "bullish signal".

"The difference now is that physical buying [in gold] is taking place at a gold price which is $70 higher than it was in mid-April," he told AXcess News.

"Our index which tracks the net flow of gold buying and selling in the physical market has jumped in recent days, confirming the positive momentum for the gold price from the physical market."

Looking to Buy Gold today? For direct access to live Gold Market prices – and to save up to 80% compared with coin dealers' fees – click through to BullionVault now...


See all articles by Gold Bug here.

Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.

Follow Us

Facebook Youtube Twitter LinkedIn



Market Fundamentals