Analysts expect gold price to continue to rise

26 December 2010 | 03:53 Code : 20403 Geoscience events
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Gold has had an incredible year. The price on the last trading day of 2009 stood at ...
Gold has had an incredible year. The price on the last trading day of 2009 stood at $1,085 an ounce; it has since risen to about $1,380, a rise of 27pc.There doesn’t seem to be much doubt about the cause of this bull market. All the analysts we spoke to agreed that "quantitative easing" - or printing money - by central banks had sparked fears over the value of paper currencies, spurring investors to switch to more tangible assets...George Soros, the investor who bet $10bn against the Bank of England in 1992 and won, said in January: "When interest rates are low we have conditions for asset bubbles to develop, and they are developing at the moment. The ultimate asset bubble is gold." But he added that buying at the start of a bubble was "rational" and funds he controls reported large holdings of the metal earlier this year.........

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