Bridgestone Global Partners COO Discusses the Steady Boom of Gold Price
It is no more surprising for Mr. Mike Morrison, the Chief Operating Officer of Bridgestone Global Partners that gold has impressively jumped to a current record of $1.526.90 per ounce in US Gold Market.
- (1888PressRelease) September 08, 2012 - At the same time, commodity market news providers claim that most investors demand for the base and precious metals in reaction to currency declines and higher commodity prices. The same predictions are consistent with that of Mr. Mike Morrison's gold predictions.
As a precious metal expert, Mr. Morrison has been long advocating the benefits of gold as a hedge against the deteriorating price of dollar and the troubled global economic trend. Mr. Mike Morrison's gold price prediction is not just a marketing strategy; it also speaks practical analysis of what has been happening in the precious metal markets as well as the entire commodity markets industry. "The price of gold will definitely continue to rise as the dollar continues to fall," said Mr. Morrison. "Few months ago, particularly when the price of gold fell to $ 920.00 per ounce, most traders made fun of the prediction that the gold metal would raise up to $1,000 an ounce. Now, gold price is at $1.526 and it continues to climb up," added Mike Morrison.
A glimpse of the gold's performance in the market for the past few years backs up what Mike Morrison is foretelling. While the US dollar fell after a growth of China's manufacturing industries in recent years, the price of gold was on stable upswing and even rising for many times in twelve sessions. US filings indicated that most accredited Commodity Trading Advisors have increased their own gold assets in the second quarter of the year.
The prediction of Mr. Mike Morrison about the price of gold is further corroborated by some trading experts who recognized the real power of gold in the market today. Mr. Neil Brandt, an independent trader from New York and has been trading for fourteen years, said that the dollar has promoted gold to new highs. "Gold is making its way towards up-trending, and there is no sign of stopping this trend at this moment," said Mr. Brandt.
"The impressive rise of gold has recorded an equally impressive impact on the global currencies, reaching an all-time high against other major currencies such as Swiss Franc, British Pound and Euro. Most investors want to get rid of the paper and instead prefer currency which cannot be deflated and that is gold. Certainly, gold is considered as international currency," said Mr. Mike Morrison.
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