The dramatic climb in the gold price so far is just the start, with plenty more money to be made as the precious metal climbs further, experts have said.
Despite soaring by around 17% in the last three months alone, to a peak of $1,061 per troy ounce last week, the price is widely expected to continue higher as western currencies experience further signs of weakness, and as disparities between supply and demand continue.
David Dennaro, the head of commodities at Threadneedle Asset Management, said the move higher was not finished yet, because of ongoing fears about currencies.
He said: ‘If you’re holding pounds or dollars, there is more upside to come. Gold is a store of value, and concerns about the stability of both the dollar and the pound remain reason to buy at these levels.’
Experts are agreed: gold price will go a lot higher
The dramatic climb in the gold price so far is just the start, with plenty more money to be made as the precious metal climbs further, experts have said.
Despite soaring by around 17% in the last three months alone, to a peak of $1,061 per troy ounce last week, the price is widely expected to continue higher as western currencies experience further signs of weakness, and as disparities between supply and demand continue.
David Dennaro, the head of commodities at Threadneedle Asset Management, said the move higher was not finished yet, because of ongoing fears about currencies.
He said: ‘If you’re holding pounds or dollars, there is more upside to come. Gold is a store of value, and concerns about the stability of both the dollar and the pound remain reason to buy at these levels.’
via Experts are agreed: gold price will go a lot higher | Personal Investor | Citywire.
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