Gold News

Gold Buying 'off the charts' in 2009

The head of a Delaware-based precious metals vault has claimed that he has seen unprecedented Gold Buying levels so far this year, the Daily Telegraph reports.

Physical Gold Investment has been surging in 2009 as prices climb higher, with the World Gold Council revealing recently that demand grew by 11 percent on a quarterly basis in Q3.

Now Bob Higgins, chief executive of First State Depository, has revealed that the number of people looking to use his facility - particularly first-time gold buyers - has been "off the charts".

"We've reached a point in the economy where people who have talked about putting their money into gold nearly every day of their lives have finally begun to invest in it," he told the newspaper.

Those views were strongly backed up last week by Stefan Graber, a Singapore-based analyst for leading financial services group Credit Suisse AG.

He explained in an interview with Bloomberg that gold is establishing an increasingly diverse investment interest demographic in the current economic climate.

"Investor interest has spilled over from those seeking a hedge against the dollar to other buying interests, such as central-bank buying," he told the news provider.

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