Posted By : Daniel Kiernan on August 1st, 2011
Location : gold
It has become one of the City’s biggest talking points: how much further has the gold price got to go? It is up more than sixfold since former chancellor Gordon Brown sold off more than half of Britain’s reserves in 1999.
Gold has breached a record $1,600 (£972) an ounce, and forecasts become wilder by the day. Hedge fund boss Christian Baha says the price could soar to $3,000. He believes western governments will print more money to stimulate their economies, further devaluing currencies, and at times of uncertainty, increasing gold’s app…