Gold prices remain under pressure with the recovery of the exchange rate of the dollar against major currencies in the last period. By 9.11 pm GMT The gold price was U.S. $ 1116.8 per ounce in trading online.

On the margins of global hedge funds, started Monday in Dubai, Deputy Chairman of the Fund ascent of gold to reach Kevin McLean ounce of gold to $ 1500 this year due to rising U.S. budget deficit and keep China and Russia, all output of gold.

McLean is believed that gold prices should rise by about $ 100 annually over the past five years, with the dollar exchange rate be regarded as a strong, reasoned that conclusion down the supply of gold fell by 1% annually over the last decade due to the exploration companies worldwide operations are easy to extract gold at a lower cost during the nineties when the prices are falling.

According to the opinion of McLean, "What remains now of gold extraction is difficult. So they are now facing difficulty in maintaining production levels. The gold production peaked in 2001."

On the ascent Fund forecasts the levels of production of gold, as Vice President of the Fund to decrease production in the coming years even if that occurred with high prices. According to the Fund, it is possible to find adequate supply of gold due to lack of production, considering that these data represent a good opportunity for investment in the sector.

He pointed out that McLean's current financial situation of the United States push gold prices to rise with the growing U.S. budget deficit relative to gross domestic product, as it rises by about 15% annually, which means that gold prices will rise by a similar. It is therefore expected McLean "The arrival of gold prices to about $ 1500 through this year."

As confirmation of this, Deputy Prime Fund ascent of gold Gavin McLean "China holds all the production of gold does not export any of it abroad while keeping the Chinese central bank gold is required locally, and Russia do the same. This cons countries 20% of global production of gold. This will support gold prices and enhance their way to abandon the dollar and increase their stocks of gold. "