|
From Komfie Manalo, Opalesque Asia: Switzerland-based commodity funds house Tiberius Asset Management AG released a report entitled 'Capital Markets Outlook 2009' last week. The report forecasts precious metals, particularly gold, will continue to provide a 'safe haven' for investors.
According to Tiberius, the trend of investing in individually allocated gold stockpiles will continue in the future.
This assessment was supported by Barrick Gold Corp. chairman Peter Munk who said during the World Economic Forum meeting last week in Davos, Switzerland that gold will likely hit record highs in the U.S. dollar terms, reports the globeandmail.com.
The price of gold rallied in January and industry observers predicted better times ahead for the yellow metal.
The globeandmail.com said the precious metals funds jumped by 5% in January, while financial services and real estate funds dropped by nearly 13% and 12% respectively.
Individual analysis of precious metals
Gold
For 2009, the Tiberius report said gold will remain in demand as an alternative "currency" for institutional portfolios in the face of the hyper-expansive monetary policies being pursued across the world. The price of gold will continue to appreciate in the coming months and range between $1,000 and $1,200 per troy ounce.
On the worst-case scenario, the price of gold is expected to drop between $700 and $750 per ou...................... To view our full article Click here
|
RSS
