GFMS expresses positive gold price view

The outlook for gold prices is generally positive, precious metals consultancy GFMS has said.

Speaking to Reuters, Peter Ryan, senior consultant at GFMS, said that the organisation believes gold bullion will continue to perform well over the course of the year.

"Gold has seen some weakness but it is highly likely that by the end of this year gold would resume its upward movement and again challenge $1,000 an ounce," he remarked.

The comments come as gold prices continue to lag behind its previous highs earlier in the year. Some experts have said that they believe the current situation could bring the perfect time for investors to buy gold if they had not done so already.

According to the World Gold Council, appetite for the yellow metal - in terms of both in jewelry and gold investment - remains strong.

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