Australian Gold Council Defends Gold Price
PERTH (Dow Jones)--The Australian Gold Council on Monday defended gold's long-term investment prospects, despite a recent slide caused partly by speculation about International Monetary Fund bullion sales.
Tamara Gorrie, chief executive of the council, said the rumored IMF sale will likely keep gold prices under downwards pressure in the near term.
"It will have some short-term impact, but it won't offset gold's buoyancy in the longer term," she told Dow Jones Newswires.
"And nothing has been confirmed about the IMF sale. It remains speculation at this stage," she added.
Read more here.
Source: By Stephen Bell Of DOW JONES NEWSWIRES
Tamara Gorrie, chief executive of the council, said the rumored IMF sale will likely keep gold prices under downwards pressure in the near term.
"It will have some short-term impact, but it won't offset gold's buoyancy in the longer term," she told Dow Jones Newswires.
"And nothing has been confirmed about the IMF sale. It remains speculation at this stage," she added.
Read more here.
Source: By Stephen Bell Of DOW JONES NEWSWIRES
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