For those banking on the Midas touch, investors of gold exchange traded funds (ETFs) are receiving mixed reviews on the potential outlook for gold. But overall, analysts seem to be in agreement that prices will remain at least where they are for now, if not shoot much higher.
But just how high is the question.
If ETF holders are building wealth, then this area of demand should create a hefty growth in price for gold in the long-term, writes Rob Mackinlay for InvestEgate.
A gold report from Ambrian Capital states that recent retail buying of physical gold from disinvestment of .4 tonnes in second quarter of 2008 to 150 tonne demand in third quarter was a panic buying frenzy that could result in a reverse panic sell. But even Ambrian cautioned investors not to rely on that analysis.