SHANGHAI (Commodity Online): Is the surge in gold price going to continue in the coming months? Gold, the hottest commodity that has been on a historic bull run in the last two years, has turned out to be the global investors' first asset choice these days.
While some bullion analysts are still skeptical about the continued bull run of the yellow metal, CEOs and managers of several bullion companies around the world are long-bullish on gold.
One such top CEO is Nick Barisheff. Barisheff, president and CEO of Bullion Management Group Inc says that gold price will continue to hit new heights in the weeks and months to come as investors are confident to pour their money into the precious, yellow metal.
The BMG CEO points out that physical bullion must be at the foundation of any intelligent investment portfolio, and predicts that if gold continues to perform as it has over the past 3 years then the gold price could rise to US$1,700-$2,000 per ounce in 2011.
Speaking at the China Gold & Precious Metals Summit 2010 in Shanghai, Barisheff said that as risks to major currencies increase through competitive devaluation and quantitative easing programs in the West, high net worth investors should seek a safe haven for their assets consider the merits of unencumbered physical bullion with no financial intermediaries or counter-party risk.
"With currencies being deliberately compromised worldwide, owning gold, silver, and platinum bars is like having a real fire extinguisher instead of a paper picture of a fire extinguisher," said Barisheff.
"Many of today's bullion investments really are paper proxies rather than physical bullion," he noted pointing out that the BMG BullionBars program provides clients with the opportunity to buy and hold physical bullion in Canada on an allocated and insured basis, with the option of on-demand delivery anywhere in the world."
Barisheff also points to Canada's excellent financial fundamentals to justify storing bullion in that country. Canada enjoys the security of the World's soundest banking system, according to the World Economic Forum.
According to the International Monetary Fund, Canada is also projected to have the fastest economic growth among G7 countries for 2011, as well as the lowest debt-to-GDP ratio in the G7.
Toronto-based Bullion Management Group Inc. is one of the world's fast-growing precious metals bullion investment companies, with $CDN 460 million of bullion investments under management.
BMG BullionFund is the world's first and only open-end Mutual Fund Trust that invests directly in equal dollar amounts of unencumbered fully allocated gold, silver and platinum bullion which also qualifies for all registered plans.
Source: http://www.commodityonline.com/news/Gold-to-touch-$1700-$2000-Nick-Barisheff-34057-3-1.html
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