Gold prices will hit record
high in next 18 months
Gold
prices may hit all-time highs in the next 18 months amid low to negative global
bond yields, said a fund manager on Monday, joining a chorus of bullish calls
on the safe haven commodity.
Despite being a
non-interest bearing asset with holding costs, gold was attractive in the
current climate where there was little trust in the establishment and its
policies as demonstrated by the June 23 referendum in the UK when voters chose
to leave the European Union, said Swiss Asia Capital's Singapore managing
director and chief investment officer, Juerg Kiener.
Spot gold
prices were trading around USD 1,350 an ounce Monday morning in Asia, about 27
percent higher year-to-date. Prices of the yellow metal hit all-time highs
above USD 1,900 an ounce in August 2011.
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