Gold to climb higher on continued stimulus measures: Alan Manzie, Ascenta
Even if US ends or tapers quantitative easing in early 2014, the West would be awash in cheap money. Catalysts for gold price inflation would more likely revert to deflation(a possibility) and sovereign credit rating risks.
Gold prices have been hammered in 2013 having fallen 25% wiping out $60 bn in value of physically backed Gold exchange traded funds. Investors have lost faith in gold but gold recovery would be driven by stimulus measures that will continue in USA, China, Japan, according to Alan Manzie, Investment Advisor, Ascenta Bullion Plus Fund.
Even if US ends or tapers quantitative easing in early 2014, the West would be awash in cheap money. Catalysts for gold price inflation would more likely revert to deflation(a possibility) and sovereign credit rating risks.
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