Gold’s Investment Future Unclear

Gold futures have been a sort of long-standing underdog at the markets for the past decade or so. Despite analysts, investors and economists predicting streaks, recession lows and general lack of muscle, the metal commodity has persevered and is currently riding out a decade long winning trend.

However, Christioph Eibl, CEO of the Tiberius Group, a Swiss commodity hedge fund has recently released a statement claiming to know the exact justifications behind gold’s rise to power and its uncertain future.

Eibl was once an avid gold supporter, going as far as writing a book about the many virtues of investing into the metal commodity. He said at the same time that he was “bitten by the gold bug.”

Nevertheless, Tiberius has shown a considerable cooling-off to gold investments in the past year. Eibl has gone on record to state that the Tiberius Group’s new standing on gold futures is neutral for the year of 2011. He added that investors were now looking to jewellery and industrial commodities.

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Eibl stated that the current figures for gold’s supply and mining stats do not justify $1,800 per ounce that the metal commodity currently fetches. He continued to say that his expectations are that gold futures will eventually fall to below $1,000 per ounce.

“From a logical viewpoint, gold is simply not a viable long-term investment,” said an official statement from the Tiberius Group’s CEO.

Eibl’s newfound stance on the metal commodity goes against what most experts are predicting for the markets. As Europe’s debt crisis continues to deteriorate and the U.S. economy suffers from high unemployment, investors are expected to flock to gold as a pillar of stability in tumultuous financial times.