Gold News

Gold price recovery predicted

Financial analyst Timothy Zimmer has predicted today (August 19th) that gold prices will make a strong recovery over the coming months.

Mr. Zimmer discussed the prospects of a surge in gold buying in relation to the current landscape of cooling prices as the dollar makes a small rally.

He explained that there are a number of economic factors in play which lend themselves to a sharp upturn in prices in the medium to long-term.

He told "The decline in gold has been far less than that of commodities in general while many experts even call it a healthy retracement.

"Gold has also historically been used as an inflation hedge, and there is clearly an inflation problem. The Consumer Price Index in July has increased 5.6 percent year-over-year thanks to higher food and energy costs.

"Meanwhile, many other economic threats in emerging markets and conflicts could help boost the price of gold"

Mr. Zimmer added that the increased threat of a worldwide recession may well push the demand for gold even higher.


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