Gold Prices have 'much, much further to go'

A leading commodities analyst has suggested that Gold Prices are set to rise significantly.

John Embry, of Sprott Asset Management, said that Gold Prices would likely increase as a result of a combination of inflation and reduced supply.

He said: "As inflation rears its ugly head and future demand for gold promises to overwhelm mine supply, gold's price will launch a parabolic rise from current levels in the near future. Gold has much, much further to go."

Meanwhile, the Press Trust of India reports that Gold Prices have increased on the back of a new wave of investor interest in the commodity.

The new provider said: "Gold prices moved up moderately at the bullion market here today on emergence of fresh buying from stockists boosted by higher global advices."

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