Why gold won't go up forever - Patrick Connolly: AWD Chase de Vere
"It is a rally - it's a sustained bull rally and at some point it will stop."
Interviewer: Geoff Candy
Posted: Wednesday , 08 Sep 2010
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GEOFF CANDY: Welcome to this week's edition of Mineweb.com's Gold Weekly podcast and joining me on the line is Patrick Connolly, head of communications at AWD Chase de Vere. Patrick much has been written lately about the strength in gold over the last 10 years, and probably more has been written about the state of the global economy, and more recently the threat of a double-dip recession. Perhaps if we can look at the broad spectrum first - where do you think we're placed at the moment as a global economy?
PATRICK CONNOLLY: In terms of the global economy at the moment certainly in western economies, the economies are still very fragile. Whether we do go back into the double-dip recession, there are different views. Our view is a hopeful ‘no we wont', but there are people who would disagree with that. Clearly what is needed is further support from governments and world banks and we're seeing that. It's a long slow process and European and US economies clearly have debt that they need to be looking to repay as they go through this process, but bit by bit we're hopeful that we'll come out the other end.
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