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Long term Gold prospects
It has been attributed that the higher prices and demand over the past two years to a number of factors including economic, financial and political uncertainties have "triggered the largest bull market in gold history".
The price of gold is now hovering at about $875 to $900 an ounce experts say they expect continued weakness in the dollar and robust investment demand, and that prices for gold could reach $1100 by year's end.
Investors prefer gold than any other investment category, according to a recent poll of UK investors by specialist insurance broker Aon Private Clients, which also showed the growing unpopularity of equity investing.
Around 28% of those polled feel most confident investing in gold during the current economic uncertainty.
“Even the credit crunch and the biggest fall in gold price for a quarter of a century in March have failed to dent confidence,” said Daniel Smith, director of Aon Artscope & Specie, part of Aon.
“As with any market, prices will go up and down but the price of gold has consistently increased over the longer period, so is still considered by most to be a sound investment,” he added.
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