Gold News

Gold Prices to rise until US government 'gets its house in order'

A senior figure at Lind-Waldock suggested yesterday (November 16th) that there is no obvious sign that Gold Prices will be halted in their upward path, CNN Money reports.

The yellow metal's safe-haven status has been highlighted in the eyes of investors amid the US government's sizable and continual accrual of debt in response to the financial crisis.

Blake Robben, a senior market strategist at the Chicago-based commodities brokerage firm, explained that the subsequent impact on the dollar is serving to boost levels of Gold Buying.

"Until the Fed reverses course on monetary policy and this government of ours can get their financial house in order, there is no indication that gold prices will stop climbing," he told the news provider.

Meanwhile, Neil Clift, managing director of financial services firm JP Morgan - which has about $2 trillion in assets - has also thrown his weight behind the argument for gold.

Speaking to the Wall Street Journal last week, he predicted that Gold Prices could eventually reach as high as $1,400 per ounce by the end of next year.

"I'm in the bullish camp. At the moment the market is in bullish mode and I actually am probably more a bull than most," he told the news provider.

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