Gold prices are expected to reach
"We are going to have a long-term uptrend for gold, because the money supply that we see in the U.S. dollar has been expanded that there is no other way [but higher] inflation in the future," Schneebeli told the Al Arabiya News Channel.
While uncertain of the exact time frame, Schneebeli is confident that inflation is inevitable and gold will regain its status as a safe haven for investors.
"Inflation has to come. And gold, as we see, is the one investment that will protect investors," he added. "It's not going to be a one-way street, but the trend is definitely up again."
The gold price on Monday hit its highest level in 3.5 months during trading in Singapore. The price of the precious metal plummeted by 28 percent in 2013, but has gained about 10 percent this year.
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