Gold prices may hit all-time highs in the next 18 months amid low to negative global bond yields, said a fund manager on Monday, joining a chorus of bullish calls on the safe haven commodity.

Despite being a non-interest bearing asset with holding costs, gold was attractive in the current climate where there was little trust in the establishment and its policies as demonstrated by the June 23 referendum in the U.K. when voters chose to leave the European Union, said Swiss Asia Capital's Singapore managing director and chief investment officer, Juerg Kiener.

The continued cratering of bond yields has also blunted the advantage fixed income instruments held over their shiny counterpart.

"This fall-off in trust is resulting in people looking at different ways to invest, particularly in an environment when the government controls the whole fixed income market, which is negative. At least (in gold), you don't have negative yields, there is no new supply...and falling production," he told CNBC's "Squawk Box."

The yield on the benchmark 10-year Treasury note sat lower at 1.44 percent, while the yield on the 30-year Treasury bond was also lower at 2.23 percent.

Spot gold prices were trading around $1,350 an ounce Monday morning in Asia, about 27 percent higher year-to-date. Prices of the yellow metal hit all-time highs above $1,900 an ounce in August 2011.