Gold News

Gold Prices to have 'kind' end to 2009

Empower Investments claimed yesterday (July 1st) that it expects Gold Prices to enjoy a strong rally in the latter part of 2009.

Writing on seekingalpha.com, Chris Dickens from the introducing brokerage firm drew attention to the yellow metal's historic tendency to rise from September onwards.

He noted that this trend has been true in six of the last eight years and advised investors to Buy Gold because he expects the situation to be replicated this year.

"If the Fed continues its current stance on inflation, and barring any unforeseen geopolitical events, I believe that the historical pattern should continue," he wrote on the website.

"October, November and December are traditionally very kind to gold and I expect this year to be no different."

Last week, Ben Westmore, a minerals and energy economist at National Australia Bank, sounded a similarly optimistic outlook for gold.

He explained in an interview with Bloomberg that he expects investors to continue devoting some of their money to buying gold if the dollar maintains its struggles.

"The more the dollar falls, US consumers will see prices of imports rise and may be prepared to use gold as an inflation hedge," he told the news provider.

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