Forecast: Gold price will reach record high in two years

The acceleration of inflation may increase demand for gold

Baku. 12 October. REPORT.AZ/ The acceleration of global inflation and despair of central banks regarding restoration of economic growth will boost demand for gold. Report informs citing the Bloomberg.

According to the asset management company "Incrementum AG" founded in Liechtenstein, the price of gold could reach a record level in next two years. Notably, according to survey by Bloomberg agency, in the second quarter "Incrementum AG" was the best gold price forecaster.

One of the company's managers Ronald Stoeferle said within the framework of central banks' monetary expansion programs with low or negative interest rate bond purchases failed to revive the world economy.

Rise in oil prices may accelerate inflation in the near future. "Inflation is likely to increase, so gold will be considered as the best investment. As long as current monetary policy continues in the world, it is reasonable to invest in gold," Stoeferle added.

According to the expert gold prices in 2016 will rise to 1 365 USD/ounce, in 2018 up to 2 000 USD / ounce and update the record.

Notably, the price of gold in 2011 rose to 1 921,17 USD / ounce and set the record.

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