Last Updated : February 05, 2010 08:00
Gold to hit $2,500: Ernst and Young
The price of Buying Gold will continue to rise in the long-term, reaching as much as $2,500 per ounce within the next two years, some analysts believe.
Viren Mehta, a financial services expert at Ernst and Young, which employs 144,000 people around the world, is one such analyst.
He told Forbes India that the underlying factors driving up Gold Prices remain in play and will continue to do so for some time, meaning that the precious metal will remain an attractive proposition.
"Gold Prices will remain high," the analyst said to the publication. "The world is not out of trouble and inflationary pressures cannot be ignored.
"So there is enough reason to see that gold prices will move up from here."
Another who believes Gold Investment will continue to rise in value is John Brynjolfsson, an expert at US investment management company Armoured Wolf, who suggested prices could rise to as much as $2,000 an ounce.
MCX Mentha Oil 29 February 2012
contract was trading at
Rs 1306.9 , up Rs. 10.1 . What's your view on it?
