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Dollar weakness helps firm up Gold Bullion demand

Gold's continuing appeal as an alternative investment vehicle to the dollar is likely to ensure demand remains firm, a leading trader has said.

According to Steve Chun, a trader with Hyundai Futures Co in Seoul, demand for Gold Bullion is likely to increase over time, marking it out as an ideal long-term investment.

He said that specific reasons for this include gold's traditionally inverse relationship with the dollar and expectations surrounding the economic outlook, Bloomberg reports.

"Investors are seeking shelter from a weakening dollar," Mr Chun told the news provider.
"We expect physical demand for gold to rebound, with some gap of time, as global economies are recovering gradually."

Nick Holland, CEO of South African miner Gold Fields, explained in an interview with Mining Weekly recently that he thought increasing interest in gold from hedge fund managers would ensure demand for the yellow metal remained strong.

"They have conceded that gold needs to be an asset class," he told the news provider.

"Within three to five years, you'll find that investment demand is probably the same as jewellery demand."

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