ZLATO – vyhliadky stále pozitívne

Gold prices and demand should continue to increase even after investors stop using it as a hedge when inflationary pressures cease and equity markets improve, say market participants.

The fundamentals supporting the market are strong despite a fourth quarter fall back in the demand for both gold and jewellery. Gold demand in 2007 was 4% higher than in 2006 at 3,547 tonnes, but down 17% in the fourth quarter (Q4), according to World Gold Council figures.

And Ben Davies, co fund manager of the Hinde Gold Fund, says this will not prevent continued rises in the gold price. He says that when jewellery demand goes down it is replaced with investor demand which keeps the price high, as evidenced over Q4.

Davies suggests that it could go on longer because ETFs are the only viable way for retail investors to enter the gold market. As few of these have exposure to gold there is great potential for an increase in demand from retail investors via ETFs.

Zdroj: GoldE

26.02.2008

"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