Spot Gold Prices may have just reached their highest level in four months, but further increases could be just around the corner.
That is according to one analyst, who expects the value of Gold Investment to carry on rising beyond the $1,168.70 per ounce spot price reached in Asia and Europe on Monday.
Rising demand for Buying Gold was triggered by a rally in the strength of the euro and increased investment demand, with many investors continue Invest in Gold as a hedge against feared currency weakness.
Speaking to Reuters, Yuichi Ikemizu, Tokyo branch manager for Standard Bank, which is one of South Africa's largest financial groups and has interests in almost 40 countries around the world, expressed the case for continued Gold Investment.
He told the news provider: "The market is technically bullish and that may spur fund buying, so I expect a bit more upside for gold."
Mr Ikemizu's comments came as commodity trading expert Jim Rogers, who has published several books on investment, told Bloomberg that he expects Gold Prices to continue rising.
He told the channel that gold will continue to grow in value for years to come, likely exceeding $2,000 per ounce by the end of the decade.
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