Gold News

Unprecedented gold prices 'should continue'

A minerals specialist has said that the current run of outstanding prices for gold bullion is unprecedented.

According to Commodity Online, David Hall of Horizonte Minerals said that gold prices have never been better and that the trend looks set to continue in the long-term.

"In the 27 years of my career as a geologist, the market has not seen $900 plus per ounce gold," he enthused.

Mr Hall added that developing countries such as Brazil, Russia and India would help to drive gold prices up through increasing demand, as would the need to replace the infrastructure in these countries, according to Commodity Online.

The fact that China has recently become a major player in the gold industry could conspire with these factors to keep investors interested in the commodity market, which he said will keep gold prices above average in the coming months.

A recent report from GFMS suggested that gold prices could rise to $1,100 in 2008.

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