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Commodities Briefing - Categorized | Bullion/Gold, Commentaries more

Gold price to hit US$3000 within 2 to 3 years

Posted on 07 May 2014

Ian Williams, co-fund manager of the WAY Charteris Gold & Precious Metals Fund, has told Every Investor that he believes both gold and silver will hit new highs within the next 2 to 3 years. Since launch in February, 2010 the fund has lost approximately 50% for investors in line with the performance of other gold funds over that period.
Yet, Williams believes this is set to change as the gold market is currently in ‘backwardation’, when the spot price is higher than the nearest futures contract. Also, the selling of 700 tonnes last year by American holders of ETF’s has now dried up but the ongoing demand from Asia continues apace………………………………………..Full Article: Source


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