The price of gold may have struggled recently but a peak price level remains an "unthinkable" development, according to Angelos Damaskos, CEO at Sector Investment Managers.
According to the World Gold Council, investment demand for gold comprised 37% of total demand at the end of the third quarter of 2012. Demand for gold coins and bars, as well as increased buying by central banks and the official sector, were particularly strong compared to the previous year. Supported by this rising demand for gold among investors, the bullion price registered its twelfth successive year of gains in 2012. At the current price of about $1,665/ounce, most gold mining companies are generating strong cashflows and profits. Nevertheless, shares in gold miners remain ...
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