Gold News

Gold Prices 'could hit $1,100 per oz' in next six months

A leading precious metals consultancy predicted yesterday (September 14th) that Gold Prices could reach $1,100 per ounce next year, Reuters reports.

Investors are currently awaiting the yellow metal's next move with bated breath as it continues to hover around the psychologically-significant $1,000 per ounce mark.

GFMS has explained that if fears over inflation - against which gold is often bought as a hedge - grow in the next six months, Gold Prices could continue to advance steadily.

"I would expect that by the beginning of next year we will be back above the $1,000 level again, and maybe with the market heading toward $1,050 and even $1,100 if there are sufficient signs of inflation and concerns over the US dollar to motivate significant investment inflows into the market," chairman Philip Klapwijk told the news provider.

A similarly positive view was outlined last week by Jang Joong Shik, head of precious metals trading at Seoul-based firm Hyundai Futures.

Speaking to Bloomberg, he explained that the combination of a weak dollar - which moves in the opposite direction to gold - and inflation concerns will stand the metal in good stead.

"The dollar will keep a weak tone, which combined with inflationary concerns, will power a further rise in the metal," he told the news provider.

To Buy Gold today, avoiding wide spreads and storage costs – but still owning your physical Gold Bullion Investment outright with full legal title – be sure to visit BullionVault and claim a free gram of gold now...

BullionVault-cube-19361755-ADNFCR

See all articles by Gold Bug here.

Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.

Follow Us

Facebook Youtube Twitter LinkedIn

 

 

Market Fundamentals