Gold News

Outlook for gold prices 'is positive'

The outlook for gold prices is positive in the long term due to the state of the economy and government action to counteract it.

This is according to Lawrence Roulston, a geologist with engineering and business training and more than 20 years of hands-on experience in the resource industry.

He commented in an interview with the Gold Report that it is only a matter of time before gold prices rise, as the demand for the metal is increasing at a faster pace than the mining industry has been able to deliver metals.

"We have an increase in real demand for gold and precious metals because of growing concern around the world over stability of the US economy, the US banking sector and paper currencies.

"The pattern I would see continuing is gold trending higher with spikes and pullbacks," he said, according to Commodity Online.

Mr Roulston also noted that the government action to prop up Bear Stearns earlier this year is continuing to support gold prices by promoting uncertainty.

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