Gold News

'Gold demand is soaring'

Demand for gold is soaring as investors look to move away from stocks and shares and buy into "real" assets such as precious metals.

This is the view of fund manager Daniel Gschwend, who believes gold investment is an attractive proposition for many people at the moment.

He claims the current bull market in gold still has a long way to go as higher prices are failing to discourage investors from buying gold.

High inflation, volatile financial markets and slowing economic growth is prompting many people to see gold investment as a safe haven.

Mr Gschwend explains: "There is some kind of paradigm shift going on in the financial world towards real assets and away from inflated paper assets."

Gold demand is particularly strong in Dubai where gold jewelry sales have risen by 18 per cent in May according to Tawhid Abdullah, the managing director of the Dubai Gold & Jewellery Group.

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