A host of global factors mean gold's price is set to maintain its strength at least for the next six to 12 months, according to an economist from a top Singapore bank.
"The world right now is in a precarious state and gold is due to benefit from this situation," said Howie Lee, economist at Oversea-Chinese Banking Corporation.
Gold anodes sit stacked in a vault at the Perth Mint Refinery, operated by Gold Corp., in Perth, Australia.is set to maintain its strength at least for the next six to 12 months, according to an economist from a top Singapore bank. Gold was changing hands at about $1,495 per ounce on Wednesday midday Asia time — having risen nearly $12 on the day. Lee said Tuesday that the metal is set to soon breach $1,500.
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