GMFS, EXECUTIVE DIRECTOR
BULLISH. Thinks the gold price may push into the $670/oz region some time during 2007 although it's unlikely to gain much further than that. In 2008, however, the recent high of $725/oz could be reached.
“The dollar is only indicative of an investment climate that’s currently favourable for gold. I take the broader view that there’s a fear out there that systemic risk is under-priced. As this fear of unknown downside hits, investment funds will seek protection by making changes in assets, like gold. Let’s not kid ourselves, gold is only a marginal player, but there’s a class of investor who’s using gold as a hedge against all risk.”