Gold News

Gold Prices to rise 'for years to come'

JP Morgan analyst Steve Shepherd has suggested that Gold Prices could continue to rise for years to come, the FP Trading Desk reports.

Investors have been buying into the yellow metal in huge volumes since the start of the credit crunch as they look for a safe place to put their money when other assets are floundering.

Now Mr. Shepherd has explained in a note to clients that decreasing mining production and central bank sales should keep appetite for Gold Investment high for a considerable length of time.

He was quoted by the news provider as writing: "We expect increased investment demand to make up for any losses from traditional jewelry markets in India, China and the Middle East to underpin gold prices."

That view was also expressed recently by Seoul-based firm Kyobo Securities, which claimed that inflation seem likely to make a strong return, thus increasing the hedge appeal of gold.

"Gold prices could continue to rise for some time,'' it said in a new report quoted by the Korea Times.

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