Gold Enjoying 'A Really Good Run' – Kitco.Com
Wednesday, 12th May 2010 (96 views)
Those who have put their money into gold may see good returns on their investment, as one expert has suggested that the precious metal is currently enjoying a "really good run" in terms of value. Ben Potter, research analyst for IG Markets, told AAP: "It has got up some serious momentum and had a really good run." He put the popularity of gold as an asset class partially down to concerns among investors that the European bailout package could lead to high levels of inflation.
Mr Potter explained that he expects prices of the precious metal to rise even higher in the long-term, in particular if inflation rises. James Steel, gold analyst at HSBC, recently told Market Watch that the interest worldwide investors currently have in gold is unlikely to weaken in the near future.He pointed out that the yellow metal has risen sharply in value in recent months due to the escalation of sovereign risk worries.