A senior figure at Miller Tabak claimed today (October 7th) that there is no reason why the Gold Price cannot continue to extend its advances, Bloomberg reports.

The yellow metal has been finding favor with investors in recent times and has now reached a record $1,050 per ounce as its eight-year bull run gathers further pace.

Dan Greenhaus, chief economic strategist at the New York-based firm, explained that regardless of whether inflation - against which gold is bought as a hedge - returns, interest will remain strong.

"Gold is a forecaster of inflation instead of a coincident indicator," he told the news provider.

"There's nothing right now that says inflation will break out to all-time highs. But gold can move considerably higher from here. Should growth return, inflation will return."

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