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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

‘Fundamentals’ continue to point to gold price rise, says prominent fund manager

Posted on 23 October 2013

Global economic conditions continue to point to increasing gold prices in the coming years, according to Angelos Damaskos, manager of the MFM Junior Gold fund. Damaskos contended that the continued uncertainty regarding the level of borrowing by the US government in 2014 will weaken the purchasing power of the US dollar.
Gold, in its traditional role as a hedge against inflation, would benefit from such a scenario. There was much surprise among market observers that, during the recent US debt ceiling crisis, the price of gold actually fell to below $1,300 an ounce………………………………………..Full Article: Source


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