Gold Could Rally through $800/Ounce: GFMS's Walker

Source:

Chief executive of specialist precious metals analysts,GFMS, Paul Walker said today on the CNBC Power Lunch with Moneyweb/Mineweb that a gold price over $800/ounce was on the cards if the US sub-prime credit crisis diminished people's confidence in the US dollar and other investment asset classes.

Gold has the upside potential to rally through the $800/ounce level if current imbalances in the global economy and the credit crunch became more severe.

Chief executive of specialist precious metals analysts,GFMS, Paul Walker said today on the CNBC Power Lunch with Moneyweb/Mineweb that a gold price over $800/ounce was on the cards if the US sub-prime credit crisis diminished people's confidence in the US dollar and other investment asset classes.

"If this unravels dramatically, then the metal at least has the potential to rally through this level."

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