Gold News

Gold Prices attracting eastern Investment

Small depreciations in Gold Prices are being viewed as a positive by many investors in the east, it has been revealed.

Koichiro Kamei, managing director at research firm Market Strategy Institute in Tokyo, said that while a reduction in risk-taking and a falling euro are restricting Gold Price gains, some investors are viewing this as an opportunity, according to Reuters.

Kamei told the news provider: "Concerns about waning risk appetite and the euro's slide are playing against gold, but at the same time lower prices are attracting physical buyers widely from Asia, particularly China."

Those people taking the opportunity to invest while prices are moderately lower could be set for a windfall if assertions by Richard O'Brien, president of Newmont, a gold producer that has been in business since 1921, are to be believed.

He insists that Gold Prices will rise again due to the fact that the commodity cannot be diluted, according to the Australian.

Mr O'Brien told the newspaper: "We see gold this year somewhere between $US1,100 and $US1,250, maybe $US1,350.

"We will see continued support for the gold price … no country can print more of it (unlike money), so no country can dilute the value of gold."

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