Gold attractive for long term buyers: Jeff Nichols

Gold looks vulnerable in the short term and could perhaps be volatile but the metal is attractive for longer term buyers, according to Jeff Nichols, precious metals economist and Managing Director of American Precious Metals Advisors.

Gold prices could witness a significant rise in the next 3-5 years when large traders in futures market who have sold reently resume buying. Hundres of tons of bullion bars have travelled from depositories in New York, London and western vaults to Hong Kong, Shanghai and East Asian region.

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