real-time news and commentary for investors
Friday, Aug 23
Bullion's bull run set to continue - analysts
- The recent increase in the price of gold, which has climbed by over 14% since dropping to almost $1,200 an ounce in June, has a strong basis and is set to continue, analysts believe.
- Some of the reasons for bullion's rise include heavy demand in Asia - and particularly India, where the insatiable appetite for gold is doing nothing to help the country's current account deficit - turmoil in emerging markets, high-priced U.S. equities and the under-performance of commodities in general.
- Another factor is a possible future constraint on supply as miners cut back on projects because gold has become more expensive to produce than it's worth.
- Gold futures are now +0.3% at $1,375.50
- ETFs: GDX, GDXJ, GLDX, PSAU, NUGT, DUST, GGGG, RING, GLD, IAU, SGOL, PHYS, AGOL, DGL, UBG, DGP, UGL, DZZ, GLL, DGZ, UGLD, DGLD, GLDI