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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