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Gold Prices to 'continue upward path'

A well-respected gold columnist has claimed that he expects the Gold Price to embark on a steady upward curve in the next couple of years.

Some commentators are suggesting that the yellow metal could fall back to $850 per ounce in the next few weeks after again failing to pass the $1,000 per ounce mark.

However, Julian Phillips, a regular contributor to the weekly Gold Forecaster newsletter, explained that the long-term implications of the financial crisis should keep Gold Investment on the rise.

"We are of the belief that gold will continue on its upward path until there is substantial and convincing evidence that we have a monetary system that can withstand the potential systemic failures on the horizon now," he wrote in the newsletter.

An equally optimistic view was outlined last week by Mike Starogiannis, mining research analyst at Wolverton Securities.

Although he noted that gold can be volatile, he explained that sharp spikes are likely to be a smaller trend in an overall appreciation for the metal in the coming years.

"I think that gold is positioned to go higher from here strictly based on the current fiscal policy of the US in terms of printing cash to fund a lot of new infrastructure projects and economic stimulus packages," he said in an interview with the Gold Report.

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