Gold Price will be 'much higher years from now'
A senior figure at Gad Partners Funds has claimed today (June 18th) that he can see Gold Prices rising substantially over the next few years.
Sham Gad, managing partner at the firm, highlighted the yellow metal's safe-haven status in the current global financial crisis, noting that "another small hiccup could send gold soaring".
Furthermore, he explained that renowned investors such as John Paulson are Buying Gold in significant quantities because they believe that prices are sure to undergo a major spike.
"In all, Paulson has nearly $4 billion invested in gold," Mr. Gad wrote on Stocks.Investopedia.com.
"That is a huge directional bet on one thing: that the gold price will be much higher years from now. And I don't think he is betting on gold just getting to $1,000 an ounce either."
Another market observer who feels gold is heading upwards is John Embry, chief investment strategist at Sprott Asset Management.
He explained last week in an interview with the Financial Post that paper currencies are struggling in the current climate and gold is the perfect alternative investment.
"It's not gold that has changed, it's the value of paper money. Relative to the overall financial sphere, gold is a small asset class," he told the news provider.
"So it doesn't take a lot of money moving in its direction out of paper to have an outsized impact. I think $1,500 [an ounce] is certainly achievable in the next 12 to 18 months."
Want to Buy Gold but unsure how to do it? For dealing spreads of $3 per ounce plus secure, professional storage in Zurich, Switzerland for just 0.12% per year click through to BullionVault now...