A prominent analyst has suggested today (December 10th) that the recent Gold Price dips do not affect the positive long-term trend for the metal.
Gold has cooled in the past week after rising by a staggering $226 per ounce in the two months since the psychological $1,000-per-ounce barrier was breached in September.
However, Jeffrey Nichols, from Roseland Capital, has explained that such lulls are inevitable but are simply small deviations in the ongoing progress of the current bull run.
"We've been consistently warning that gold's advance would be marked by high volatility and occasional sharp reversals that would lead some to believe the long bull market in gold has ended - and we will continue to hold this view even if the metal falls back yet another $100 an ounce," he told the Irish Independent.
Meanwhile, Kimberly Tara, chief executive of fund manager FourWinds Capital, has added her name to this list of market observers predicting a bright future for Gold Prices.
In an interview with Reuters, she explained that the dollar - which shares a negative correlation with gold - is showing no signs of rising significantly in the coming weeks.
"There is security in hard assets the US economy and the dollar are not looking too pretty," she told the news provider.
"It is clear that the ability of the dollar to rally in the near future is extremely limited and that does impact where investors want to put their money."
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