Released on: August 19, 2008, 12:54 am

Press Release Author: Michael Brown

Industry: Financial

Press Release Summary: Portway Capital confident that gold is poised to gain in line
with its September surge expectations

Press Release Body: Portway Capital are thought to be expecting gold to keep to its
tradition of surging in September according to an individual familiar with research
at the France-based wealth management firm. "Gold tends to trade sideways during
the summer as jewelers enjoy vacations", said the Portway Capital source. He
continued, "There's no reason why this year should be any different".
Gold for immediate delivery traded as high as $830.00 at one point before falling
back. Although the metal has lost 21 percent from its March 17 record of $1,032.70
an ounce, Portway Capital are thought to remain convinced of its role as a
time-honored hedge against inflation.
There have been ``a lot of buyers for gold from jewelers and investors after prices
fell close to $800", said the source.
The Portway Capital source added that India, the world\'s biggest buyer of bullion,
may increase imports as jewelers rebuild inventories before the festival season
starts this month.
The moribund global economic outlook is likely to increase the appeal of gold as a
safe-haven asset for investors as central banks around the globe continue to battle
the twin forces of slowing growth and rising inflation.


Web Site: http://www.portwaycapital.com

Contact Details: Michael Brown
news@pr-newsnow.info