Khaleej Times/Sandhya D’Mello/04-10-17
Gold prices are currently set for a fresh rally given the uncertainty and volatility in global markets. Investors, who assembled in Dubai on the historical launch of DGCX Shanghai Gold Futures on Sunday, are keenly watching the trends as they resort to the ever proven safe-haven investment in the yellow metal with leading brokers predicting $1,300 per ounce in the coming months.
“Gold is the safe-haven proven asset and is indeed the best performing asset class of this century. Since the summer of 2001, the gold prices are up over 320 per cent and this is a clear indication that investors try to protect their investments through the uncertainty by investing in gold. We have to face four years of uncertainty in Trump’s tenure,” said Jeffrey Rhodes, principal consultant at RAKBank. “I think gold could easily touch $1,400 per ounce on the higher side.”
…Ole Hansen, head of commodity strategy at Saxo Bank, said: “We maintain our end-of-year forecast for gold at $1,325/oz and based on a pick-up in industrial metals, we could see silver reaching $19/oz.”
