Gold Prices will rise due to weakening currencies, says expert

Gold Prices could rise on the back of the continued weakening of several currencies, it has been suggested.

That is the opinion of Sajith Kumar PK, chief executive of Dubai-based JRG International Brokerage DMCC, who believes that the loss of currency clout around the world could see Gold Prices hit $1,200 by the beginning of April, according to Emirates Business.

Kumar told the news provider: "With almost all major currencies weakening, we are still bullish on gold. There is a feeling that gold remains the best investment option."

Lawrence Roulston, editor and publisher of Resource Opportunities, also believes that the conditions are right for a rise in Gold Prices, though he believes that the increase will happen over a lengthier period of time, according to Commodity Online.

He said: "When people decide they want to invest in [gold], finding signs of inflation is very positive for the gold market.

"I think we're going to see a long-term continuing uptrend in the gold market and I think we're going to see increasing inflation," reports the news service.

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