Demand for Buying Gold expected to strengthen, says WGC

The global demand for Buying Gold is set to increase, according to the World Gold Council (WGC).

Speaking after Gold Prices held above the $1,100 mark despite a slight recovery from the US dollar, Rozanna Wozniak, investment research manager at the WGC, said that demand for the precious metal would not wane.

However, she was quick to point out that such demand increases would not happen overnight.

Ms Wozniak said: "While industrial and jewelry demand are expected to strengthen in an environment where economic conditions are improving, this recovery is likely to be relatively gradual."

Buyer interest in the market is something Philip Klapwijk, chairman of international precious metals consultancy GFMS, agrees is set to rise in the future.

He said: "We sense that there is a large amount of money poised to enter the gold market in 2010."

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