Gold Prices 'will maintain their upward momentum'

A prominent analyst has suggested that Gold Prices are capable of sustaining their momentum well into next year, the Daily Telegraph reports.

The yellow metal is very much in vogue at present, with even upmarket London department store Harrods deciding to sell gold bars and coins to its customers.

Suki Cooper, a precious metals expert at leading investment bank Barclays Capital, explained that this trend is likely to continue for at least the next seven months.

"We expect prices to maintain their upward momentum through to at least the first half of 2010, where we expect prices to average $1,140 in the second quarter," she told the newspaper.

"The unexpected purchase of [200 tonnes of] gold by the Reserve Bank of India has only added to the positive sentiment towards gold."

Meanwhile, an equally optimistic view of the future of Gold Prices was outlined last week by Stanley Fink, the former chief executive of hedge fund manager Man Group.

He explained that International Standard Asset Management - of which he is now the head - is planning to re-launch a gold fund next month amid growing demand for the metal.

"I think gold will take value as the world's ultimate reserve currency," he said last week in an interview with Reuters.

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