RF Lafferty Inc trader Marty McNeill suggested yesterday (September 28th) that Gold Prices will continue to rise in the future as the dollar is struggling to pare its losses.
A number of market commentators have predicted that the yellow metal will suffer a sharp correction after dropping below $1,000 per ounce in the past few days.
However, Mr. McNeill explained that any lull will be purely temporary as the greenback - which shares an inverse relationship with gold - is not an attractive investment proposition.
"The key to gold is the dollar. You may get a respite here but the dollar continues to weaken," he said in an interview with Bloomberg.
A similarly optimistic outlook for the future of Gold Investment was provided last week by UK-based firm ETF Securities.
In a new report, it claimed that the yellow metal will continue to find favor from a long-term viewpoint as investors are concerned about dollar weakness and inflation - against which it provides a hedge.
According to Bloomberg, one section read: "The largest buyers of gold exchange-traded commodities are institutional investors buying as a long-term hedge against inflation, dollar depreciation and other risks.
"The signal exchange-traded commodity holdings are sending is that most large investors believe these risks will continue to rise."
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