Gold News

Gold Price in low $900s 'is an attractive buying level'

A metals strategist at the largest bank in Germany claimed on Wednesday (June 17th) that the current Gold Price may well entice bargain-hunters.

The yellow metal is currently trading between $930 and $940 per ounce, still some way short of its all-time high of $1,030 per ounce, which was attained in March 2008.

However, John Crane from Deutsche Bank explained in an interview with the Wall Street Journal that fears over the future of the dollar could lead investors to Buy Gold at such low levels.

He told the news provider: "There is some speculation of dollar strength in the short term. But those looking to establish long positions will find the low $900s a fairly attractive level."

Those comments come after Patrick Heller, general manager of Michigan-based precious metals dealer Liberty Coin Service, sounded a particularly bullish note for gold.

He made reference to the recent St Petersburg International Economic Forum, where International Monetary Fund director John Lipsky claimed that a "revolutionary" new global reserve currency could replace the dollar.

"Over the past two weeks, the US government's trading partners have lost several skirmishes trying to suppress the spot price of gold," wrote Mr. Heller on

"Any threat to the US dollar as the world's reserve currency would cripple the value of the dollar and lead to higher gold and silver prices. To me, it is a question of when, not if, that the prices of gold and silver will jump far higher than current levels."

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