Gold Prices 'showing no signs' of halting upward momentum

A senior figure at Blanchard and Co has suggested that he can see no reason why Gold Prices cannot continue to rise, the Associated Press reports.

The yellow metal has finally embarked on a significant break into four-figure territory and it reached an all-time highest level of $1,062 per ounce today (October 9th).

David Beahm, vice-president of economic research at the precious metals investment firm, explained that ongoing weakness in the dollar should see those gains extended.

"The only way this doesn't continue would be a stronger dollar," he told the news provider.

"I can't find anybody out there that is saying that is going to happen."

A similarly optimistic assessment of the future of Gold Prices was outlined last week by Bill O'Neill, a portfolio strategist at Merrill Lynch Global Wealth Management.

In an interview with the Daily Mail, he predicted that gold could become the number one investment for anyone seeking a store of wealth as the effects of the financial crisis continue to emerge.

"If there is even a hint that central banks are being over-generous in their fiscal stimuli, gold will become everyone's touchstone," he told the newspaper.

"Investors worried about the quality of the currency or government bonds they are holding will seek the reassurance of gold."

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