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Gold Prices could hit $1,500 thanks to 'dysfunctional government'

Gold Prices could rise to in excess of $1,200 by the middle of the year, before increasing further to $1,500 by the year's end.

That is the opinion of Jeffrey Nichols, the managing director of American Precious Metals Advisors and commodities economist of more than 25 years, who suggests that finanical circumstances stateside could heavily influce Gold Prices.

He said: "The single most important factor promising higher US dollar-denominated Gold Prices are inflationary US monetary and fiscal policies [from] a dysfunctional government that remains incapable of dealing effectively with these immense issues."

Recent events in the market support Mr Nichols' assertions, with Gold Prices experiencing an upturn as a direct result of dollar depreciation.

Toby Hassall, a strategist with CWA Global Markets Pty in Sydney, the commodities-focussed investment firm, told Business Week: "We saw a reversal in the direction of the dollar last night and the currency softened today again, which is supporting Gold Prices."

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