Gold price is 'still on a long-term bull run'
A UK-based chartered financial planner has suggested that despite gold's recent volatility and price dips, it still represents a sound long-term investment, the Daily Telegraph reports.
The price of the yellow metal has veered up and down considerably since touching its record peak of $1,030 per ounce in March as the economic landscape has blurred further.
However, Personal Finance Society Fellow Jonathan Davis, of Armstrong Davis, has explained that buying gold is a prudent investment strategy as prices will continue rise in the long run.
He told the newspaper: "In spite of the falls this autumn, the gold price is on a long-term bull run, which started in 2000."
Mr. Davis' comments were echoed recently by Boonlert Siripatvanich, the president of Bangok-based gold trading service provider Ausiris Gold Investment.
He expressed his belief that investors will be looking to buy gold for the forseeable future, commenting: "Savings demand has increased due to the economic uncertainties. Gold is a good alternative for savings or investment."
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