Gold Prices could reach $3,000

Gold Prices could continue rising to more than double there current position, it has been suggested.

Graham French, manager of the M & G Global Basics Fund, believes that the near-continual Gold Price rise of the last ten years could carry on to significantly higher levels, according to the Daily Telegraph.

He told the news provider: "Against this backdrop, the gold price could go much higher than these already elevated levels. It wouldn't be too far fetched to see it rising above $2,000, or even up to $3,000."

Mr French's bullish sentiment is shared by Ronald Leung, director of Lee Cheong Gold Dealers in Hong Kong, who believes that investors are generally still confident that Gold Prices will rise further.

He suggests that few financiers are certain enough that the price will drop to dismiss any interest in the metal.

He told the Economic Times: "I think sentiment still maintains at slightly bullish. There are still many uncertainties around the corner. Nobody wants to dump gold too much. Only speculators dump gold."