Gold Prices could reach $1,300, says experts

Gold Prices could continue to rise to the $1,300 mark, two reputed industry analysts have suggested.

Mary Anne and Pamela Aden said in the latest edition of their reputed Aden Forecast that Gold Prices could carry on rising following the recent breach of the record high.

They said: "Now that gold has broken into record high ground, above $1,218 on a close, it could jump up to $1,300 or higher, to possibly the top of the channel during the current rise … gold is headed higher."

Investec Global Gold fund manager Daniel Sacks also believes that Gold Prices could rise further, particularly in light of the metal's relationship with the US dollar and the wider market.

He told the Financial Times: "It is gratifying to see the linkage to the dollar is dying down and gold is appreciating in its own right.

"And the fact gold doesn't have any industrial use is pretty bullish because there isn't going to be any demand response to lower the price."

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