Investment Opportunity Goes Gold

 

 

A leading industry analyst has said that future opportunities for Gold Investment are inherently linked to the fortunes of the US dollar.
Peter Tse, head of precious metals at the Hong Kong branch of the Bank of Nova Scotia, which operates in more than 50 countries worldwide, said that while Gold Prices fell yesterday, future opportunity was tied to the dollar, according to Bloomberg.
While this may not currently appear to provide as attractive a deal as the metal has offered in recent months, the underlying factor should not be ignored. If the dollar struggles, Gold Prices will likely rise.
Mr Tse, whose organization manages assets worth more than $485 billion as of July 31st 2009, told the news provider: "Gold still lacks momentum to go anywhere, closely following the track of the dollar. Gold really depends on how the dollar behaves."
Some analysts remain much more optimistic about the Gold Investment opportunities for 2010, irrelevant of particular market tie-ins to the dollar.
Peter McGuire, managing director at CWA Global Markets Pty in Sydney, an Australian investment firm, recently told Bloomberg that Investing in Gold for 2010 was "the place to be".