Gold tipped to reach record heights despite dip

Managers expect the gold price to rebound back to all-time highs in the current uncertain environment, despite the dip seen over the past month.

On Wednesday of last week, the price of bullion fell below $1,190 an ounce, $67 less then the record high reached in mid-June. The fall has been blamed on July being a seasonally weak period for gold, but it has also been suggested investors’ risk appetite had increased. However, commodity managers are sticking with their gold positions over the long term and have been buying up on price weakness. Daniel Sacks, co-manager of the Investec Global Gold fund, has used inflows to purchase gold equities, which he says tend to lag the gold price  over three to four years and normally give...