World Gold Council to court institutions in China and Japan

Gold prices hit record highs recently, and many in the market feel they are likely to rise yet further. Barclays Capital, for instance, forecast last week that the price could rise as high as $1,500 an ounce, a view also taken by Bank of America Merrill Lynch. Certainly, in inflation-adjusted terms, the metal -- which hit $1,061 a troy ounce last week -- is some 46% below its January 1980 peak price. Continuing recessionary and inflationary fears are clearly one reason for this fligh…