Gold News

Gold Buying 'supported by economic conditions'

A leading North American financial services provider claimed on Saturday (May 30th) that investors will continue to Buy Gold as a long-term investment.

The yellow metal is often favored for its ability to offer a store of value in tough economic times or more generally as an alternative investment to paper currencies.

Now a group of analysts from BMO Capital Markets have explained in an interview with the Wall Street Journal that a number of factors are currently playing into the hands of Gold Investment.

"Gold, copper and oil should continue to be supported by better economic conditions, poor supply growth prospects over the long term and their appeal as a hedge," they were quoted as saying by the news provider.

Meanwhile, Peter Grandich, who writes for Agoracom, an online marketplace for investors, has explained that gold is continuing to capitalise on the plight of the US dollar.

Gold has historically moved in the opposite direction to the greenback, which is feeling the force of the US government's huge fiscal response to the economic crisis.

"Gold has broken through several resistance levels, and the US dollar's free fall has aided both gold and silver," Mr. Grandich told the news provider.

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