Gold News

Gold Prices will rise thanks to Central Banks

Gold Prices will continue to rise for years to come due to Central Bank activities, it has been suggested.

BlackRock gold expert Evy Hambro believes that Central Banks' purchasing trends with regards to the precious metal will result in Gold Prices rising for some time yet, according to citywire.co.uk.

He told the news provider: "For us the most exciting thing recently has been the activity of the central banks, which have historically been net sellers of gold from their reserve base.

"Last year was the first I can remember where central banks were significant net purchasers of gold."

Meanwhile, some investors in India are hoping for Gold Prices to fall so they can pick up a bargain, according to the Economic Times.

The news provider reports that a dealer with an unspecified bank in Mumbai said: "$1,120 to 1,130 could be a good level to enter for [bargain-hunters]".

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