Gold rally to continue says expert
Manama, October 12, 2009
Gold prices have been rising for some time and that is not likely to change in the near future, according to an expert.
'Gold is in a long-term bull market with good potential for absolute investment returns,' said US-based Tocqueville Asset Management's John Hathaway.
Hathaway is currently visiting the region to promote a unique Sharia-compliant gold fund that was set up in January with seed funding from Dubai Multi-Commodities Centre.
The operation is a joint venture with Dubai Sharia Asset Management and is promoting investment in this Islamic institution in the Middle East and further a field.
'I see gold continuing to rise against paper currencies and investing in gold producers using a Sharia fund lets investors take both long and short term positions,' he said.
'There is a supply demand imbalance in the market with a stagnant mine supply at a time of greater investor interest. It is an efficient market in that it is very slowly geared because of the nature of the product and the demand.'-TradeArabia News Service