Gold News

Gold Prices 'will remain strong' amid record low interest rates

A senior figure at Okato Shoji Co suggested yesterday (November 19th) that Gold Prices are unlikely to fall dramatically in the current economic climate, Reuters reports.

The yellow metal is receiving strong investor sentiment at present, particularly as most commentators have predicted that US interest rates will remain at historic lows for the foreseeable future.

Now Kaname Gokon, deputy general manager for the research section of the Japanese commodity brokerage, has explained that any small price lulls will be offset as gold has now established a strong floor.

"Any further dips would be supported as buying is expected to emerge at around $1,120," he told the news provider.

"Nothing will change unless strong US data dashes the consensus that US interest rates will stay low."

Meanwhile, renowned investor Jim Rogers, chairman of Singapore-based firm Rogers Holdings, reiterated his bullish stance on the future of Gold Prices last week.

He explained that a figure almost twice as high as the current level near $1,150 should be attained, based on the peak of the previous bull run for gold 29 years ago.

"Just to get back to the old high back in 1980, adjusted for inflation, the price would need to be over $2,000 now," he told the Daily Telegraph

"So we'll certainly get there some time in the next decade."

Researching your first Gold Investment today? Don't pay more than you should! Make it cheap, simple & ultra-secure at BullionVault...


See all articles by Gold Bug here.

Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.

Follow Us

Facebook Youtube Twitter LinkedIn



Market Fundamentals