Gold News

Gold bullion dealers seeing huge demand

A number of gold bullion dealers in the US are reporting strong demand for physical investment as the present economic uncertainty continues to rumble on.

Central banks and governments have attempted to ease the effects of the credit crisis recently by pumping huge sums of cash into the money markets.

However, many experienced sellers are still suggesting that gold prices will continue to rise as people are looking for an investment as a safe haven against inflationary pressures.

One such figure is Dana Samuelson, president of the American Gold Exchange in Austin, Texas, who said: "People are concerned about inflation right now.

"I think gold prices will be substantially higher still in the coming years, based on the inflationary forces of all this money they're printing to continue to lubricate the financial system...People are scared. We're in uncharted territory."

Meanwhile, precious metals retailer Blanchard and Company has explained that it has recorded a huge 1,000 per cent increase in the number of hits on its website since early last month.

David Beahm, the New Orleans-based company's vice-president of economic research, has claimed that gold buying has been the main source of interest from investors.

"Quite frankly, we've never seen this kind of demand before," he said. "People are actually just interested in gold."

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