Gold Prices could soon hit 'new upward phase'

A reputed precious metals analyst has suggested that Gold Prices could be set for a long-term rise as the market re-enters a Bull Run.

Jeffrey Nichols, senior economic advisor to Rosland Capital and a well known Gold Bullion commentator, has revealed that the precious metal could be set for return to long-term price increases, according to Commodity Online.

He told the news provider: "The snap-back in the US dollar price of gold this past week to $1,100 an ounce may mark the beginning of a new upward phase in the metal’s long-term bull market.

"Importantly, gold found support near its early February 14-week low point of $1,045 after a two-month-long retreat."

Testament to the fact that the precious metal could well resume the nine-year Bull Run is the suggestion that the precious metal permanently evades the previous Run's definitive end.

Mineweb.com states: "The Gold Price has recovered very quickly in each case from two successive announcements which were seen by some as marking the end of the gold bull market."

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