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Wednesday, 11th October 2006 (4247 views)

Gold is set to play a long-term role in investors' portfolios, according to two leading figures in the gold mining sector.

Kieran Downes, president and chief executive officer of Gold Peak Resources, stressed that gold will continue to be the long-term focus of many investors.

According to him, this is down in part to an expected rise in demand from China and India as the two countries experience ongoing economic growth.

Gold Peak has already identified Argentina as the next growth area for gold exploration. As such, the company is pursuing five long-term projects in the region to ensure that it can meet forecasted demand, especially as oil costs remain high and the dollar value falls.

In addition, Jon Nadler of Kitco confirmed that gold still remains the main choice for many investors despite recent price fluctuations.

He explained: "There will always be a role for gold in the portfolio of investors.

"We try and remind investors of the Kitco proverb, when you buy gold for the right reasons there is no such thing as the wrong time or the wrong price."

 

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