Bullish on bullion

Gold prices are hitting record highs, and with a variety of investors continuing to pour into the market, analysts are predicting further increases in the year ahead. By Peter Madigan

Amid the pessimistic start to the New Year, which saw faltering capital markets, further massive losses among investment banks and increasingly vocal predictions of a looming global recession, the gold market has emerged as one of the few beneficiaries of the gloomy financial outlook.

Bullion made headlines in January after hitting a series of record highs in the early part of the year. The active month gold futures contract for three-month delivery on the New York Commodities Exchange (Comex)