Gold News

GFMS: Gold outlook 'strong for investment'

A spokesperson for one of the world's foremost precious metal consultancies, Gold Fields Mineral Service (GFMS), has said that the outlook for gold prices remains bullish.

Paul Walker, chief executive of the London-based organization, told the India Gold Conclave conference that he is confident that the current economic conditions will act to support gold prices.

"The effects of the sub-prime credit crisis continue to provide a strong investment case for gold," he told the Hindu Business Line.

Mr Walker added that demand for gold could be driven higher thanks to the effect of falling property prices upon consumption and equities.
Meanwhile, in related news, gold prices could also increase as a result of geo-political tension, it has been suggested.

Dresdner Kleinwort analyst Peter Fertig told Forbes that Iran's third day of testing missiles could both increase gold directly through safe-haven buying, as well as indirectly through the rise of crude oil prices.

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