ZLATO – krátkodobo sa očakáva volatilita

There would be short-term volatility in the gold market as demand from the jewellery sector eased off but long-term fundamentals were still positive for the metal GFMS CEO Paul Walker said.

“I suspect we’ll see some real volatility in gold. The reason for this is that jewellery demand - the bedrock that kind of defines where the floor for the gold price is over a period of time – has fallen away to a great degree, especially in the fourth quarter of last year,” said Walker.

The fall in physical demand tended to frighten away buyers of the metal in the short term.

“That suggests to me there’s some real short-term price risk in that you could see the price coming off very sharply,” he said on Classic Business, a week-nightly radio broadcast.

However, economic fundamentals were still positive for the yellow metal. “The backdrop for gold is still very positive and the secular trend is upwards.

“So, do we see $1000 this year? – I would certainly not be the one writing it off and I think we’ll see a trend in that direction,” said Walker. He added: “It’s going to go through $900 - it’s a matter of when, not if.

“There’s no doubt that’s feeding into broader fears about inflation in the global economy. As we know, historically it’s been shown that gold responds very well to high inflation - it tends to go up - so, I think it’s true we’re going to see gold responding to this rising fear of inflation,” said Walker .

Zdroj: www.miningmx.com

15.01.2008

"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value."   Alan Greenspan