BEIJING (Commodity Online):J.P. Morgan China managing director Jin Ulrich, said to Reuters, that it is not the end of gold rally.
Gold is seen as an alternative to paper currencies, he said. Increasing political uncertainties and rising prices would keep gold as a hedge.
June delivery gold on the Comex in New York rose $4.10, or 0.3 per cent, to close at $1433. Yellow metal has jumped 27 per cent in the past year.
Gold rally was termed a bubble when skeptics yelled at gold way back in time, when prices stood at $250 an ounce. This continued for a while and kept on amassing followers even as gold broke through $1,000, $1,200 and now $1,400 an ounce, according to Frank Holmes in IB Times.
The director is also bullish on China, but cautious on investment risks brought forth by social tensions.....read on
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