Gold News

Gold Bullion is 'not just a currency trade'

Gold Bullion has been hailed as being more than just a currency trade.

William Rhind, strategic director for ETF Securities, said that the precious metal is, for the first time in nearly a year, being discussed in financial circles as a legitimate and reliable safe-haven, rather than a currency trade, reports the Associated Press.

He told the news provider: "For the first time in months, (investors are) talking about gold as a safe-haven investment, not just a currency trade."

Meanwhile, Ronald Leung, director of Lee Cheong Gold Dealers in Hong Kong, said that there had been some interesting activity in the Indian market, with a mixture of buying and selling in the physical sector.

However, He told the Economic Times that while there had been some selling by investors operating in that particular marketplace, sentiment remained bullish.

He told the news provider: "We've seen a two-way activity at around these levels. Basically, we are still bullish on gold."

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