Gold prices 'will rally above $1,000 per oz'

A leading figure at Emergent Asset Management has claimed today (December 16th) that gold prices could easily pass the $1,000 per ounce barrier in the next year-and-a-half.

The yellow metal last retested that mark earlier this year - hitting a high of $1,030 on March 17th - and has since broadly declined, albeit with considerable short-term volatility.

Now David Murrin, chief investment officer at the firm, which is minority-owned by Toronto Dominion Bank, has explained that now is a perfect time for investing in gold.

He told the news provider: "The US will have a debt crisis next year alongside a currency crisis. The dollar is on the verge of taking a complete dive.

"Gold will rally because it's a surrogate currency, I can see it reaching its highs within 16 months."

Those sentiments were echoed recently by Join Meyer, an analyst at Fairfax, who explained that gold prices will remain strong as the impact of the current economic crisis unwinds.

"Gold will be an important commodity in the protection of value," he said.

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