Regal Group International: Largest gold refinery, Rand Refinery sees no end to gold’s rally.

Sept. 27, 2010 - PRLog -- Howard Craig, managing director of the South African firm Rand Refinery has told reporters that while demand for gold coins may have turned more fickle the increasingly uncertain global economic situation is driving investor appetite for gold and the metal looks set to realize more gains.

In a brief interview at a recent industry conference, Craig told Regal Group International sources that even with demand for some products such as gold coins dropping off from last year’s peaks, he expected investor demand to drive bullion’s price higher.

A number of economic factors, including the slowing U.S. economic growth, a noted tempering in the growth of China and the impact of the European sovereign debt crisis are all playing significant roles in adding to the uncertainty currently pervading financial markets.

"In simple layman's terms, we're not out of the economic crisis yet. There's still some structural change that has to happen and I think the gold run is still going to continue for some time," Regal Group International has learned Craig pointed out, adding that he fully expected the gold price to increase to $1,500 in the next 12 to 18 months.

Gold, which has seen an increase of around 18 percent so far this year, recently topped the record $1,300 an ounce mark, and has profited from a stream of buying as investors globally are unsettled by the high levels of volatility in other asset classes including currencies, stocks and bonds.

Regal Group International believes that Howard Craig indicated that while there was potential for gold to correct lower as it continued on its upward path it was gaining appeal as an asset class in its own right and would be cushioned from any steeper declines.

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