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Monday, 26th January 2009 (1051 views)

A new poll has revealed the majority of gold experts are advising purchasing the precious metal in the current market.

The survey, conducted by Bloomberg, showed that 28 of the 31 traders, investors and analysts asked believe now is a good time for investors to buy gold, with just three advising a sale.

This, Bloomberg states, is "the most bullish response" from those questioned in the survey since it began in April 2004, with the recent high futures for the metal - which currently stand at $896.80 (£652) an ounce in New York - believed to be a factor in the experts' recommendations.

A record high in the price of gold was recently predicted by Morgan Stanley, with the firm expecting the value of the metal to increase over the coming three years.

And Brokerage Motilal Oswal recently stated that the declining worth of other commodities is benefiting gold's price, telling Reuters that it is currently a "safe haven" for investors.

 

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