Asia-Pacific News

Would You Buy Gold Now?

Gold prices have been going from strength to strength. Spot gold was on a 9-session winning run, pushing the yellow metal to an all-time high of $1,594.16 last week.

Worries about the Eurozone, suggestions that the Fed may embark on QE3, as well as uncertainty surrounding the U.S. fiscal situation have all helped to support sentiment, as investors turn to the safety of the commodity.

According to the World Gold Council, central banks globally bought more gold in the first half of this year than in the whole of 2010 as they continued to diversify their holdings away from the U.S. dollar.

While a handful of analysts expect the prices to continue to soar, with Standard Chartered calling for gold to make a run to $5,000 in the next 5 years, others have cautioned that the yellow metal, which has doubled in price since the onset of the global financial crisis, has become too expensive.

We want to know what you think: will you buy gold now?