Chinese New Year To Boost Gold Price

Published on February 12, 2010 06:55:00 IST

A leading industry analyst has suggested that current Gold Prices offer a great opportunity for people looking to Invest in Gold. Marc Faber, author of the Gloom, Boom and Doom report, said that the recent reduction in Gold Prices does not represent a permanent slide, rather a correction. As such, it provides Gold Investment opportunists a potentially lucrative break, according to Commodity Online.

Mr Faber told the news provider : "The dip in gold price is a correction and this should be taken as a great buying opportunity." However, people looking to Buy Gold before prices rise may have to act sooner rather than later, with reports that demand from Chinese investors is increasing, according to Dow Jones Newswires. The popularity of the yellow metal in China could cause the global price to rise. IMF Global analyst Tom Pawlicki, told the news service: "There's some talk of improving gold demand [because] of the Chinese New Year."

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