Gold prices to go 'much higher' in next two years

Respected US gold commentator Jeffrey Nichols has today (February 5th) expressed his belief that Gold Prices will pass the $1,000 per ounce mark in the next two years, Mineweb reports.

The yellow metal has been notoriously volatile since attaining record highs of $1,030 per ounce last March, although it has outperformed most other assets in the current economic climate.

Mr. Nichols acknowledges that there may be "occasional disappointment" for anyone looking to make a quick buck but notes that anyone with a long-term Gold Investment will be rewarded.

He told the news provider: "Further out - over the next year or two - I have no doubt that gold will move to new historic highs well above the $1,030 level touched a year ago in March."

That view was echoed last week by Adrian Koh, an analyst at Singapore-based firm Phillip Futures, who explained that most investors are turning to gold as they are jittery about other commodities.

"Investors are probably more concerned about what's happening in the markets now and feel that gold will probably be the standout winner against the other currencies," he told Reuters.

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