Gold News

Positive outlook for long-term Gold Price

The long-term perspective for gold is "positive", it has been claimed, with analyst Florian Grummers suggesting the yellow metal is set to break through the $1,000 barrier.

In an article for Commodity Online, Mr Grummers noted that Gold Investment patterns had led to several failed assaults on the $1,000 breach in the recent past.

However, he believes that mounting pressure will lead to a "break out" of the holding position, meaning the long-term outlook for gold is still "super bullish".

"Long term I expect the price of gold moving towards parity to the Dow Jones (=1:1)," the expert wrote.

"The next primary cyclical change therefore is still years away. This means we are in a long-term bull market in gold (and also commodities) and in a secular bear market in most of the stock markets."

John Lee, a hedge fund manager at Mau Capital Management, is also of the opinion that the Gold Price could soon reach three figures.

Indeed, he suggests that $1,500 per ounce gold could become a reality by the end of the year, Stock House reports.

"Gold indeed took a breather while allowing commodity and equity markets to catch up," he told the news provider.

"Now with crisis talk receding, inflation and deficit concerns will return to center stage. I look for gold to first break out of $950 by September, and rocket past $1,000 by the end of October."

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