Sacks stays bullish on bullion despite recent price plummet

Manager believes gold shares set to outperform ETFs

Investec's Daniel Sacks continues to be bullish on the long-term outlook for gold despite the recent fall in price and stronger US dollar. He warned there maybe some consolidation in gold bullion price in the short term but believes gold shares are offering opportunities that may outperform ETFs. "We remain positive on gold based on a mix of macro and supply and demand drivers. "The forces that have propelled gold for the past five years are firmly in place, and policy prescriptions for the credit crisis seem powerfully and uniformly reflationary," he said. Historically, the gold pr...