Physical Gold Respond to Bank Predictions of Gold Reaching Record Highs in 2013

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Leading UK gold dealer, Physical Gold, has responded to forecasts from three major banks over the future for gold in 2013.

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Gold investment has had a fantastic year and looks to continue this trend into the New Year, with predictions of gold prices reaching record highs.

According to The Telegraph, Goldman Sachs expects gold prices to reach $1,800 an ounce next year and estimate an average price of $1,750 in 2014.

The Telegraph added that French bank, BNP Paribas, also see gold hitting a new record in 2013. They believe gold could achieve a new record high in 2013 due to further monetary easing as well as less tail risk related to the breakup of the eurozone and ongoing support from physical demand.

According to the newspaper, US broker Morgan Stanley, named gold as its top pick next year and predict no sign of improvement in real interest rates. They believe gold will be supported by a weaker US currency, low real interest rates, central bank buying and enhanced geopolitical uncertainty.

A spokesperson from Physical Gold said:

Gold investment has had a fantastic year and looks to continue this trend into the New Year, with predictions of gold prices reaching record highs. The forecasts from these banks show that investment in gold really is the way to go as a safe hedge against inflation and protecting the value of your savings.”

Physical Gold is continuing to watch the market with interest.

Physical Gold Ltd is a leading UK gold dealer, helping investors diversify their portfolios with innovative investment solutions. Renowned for their ground breaking products such as the Sipp gold and Gold Accumulation Account, the firm specialise in providing customers with tailored assistance in sourcing the best gold for their personal requirements. Based in London, the team are BNTA accredited and have an unrivalled knowledge of the gold market as well as an exceptional understanding of the general financial markets.

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Dan Fisher
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