Gold Prices to 'remain high through 2010'

Gold Prices are likely to remain strong throughout the rest of the year, according to the latest Gold Yearbook from CPM Group.

The respected New York metals analyst believes that demand for Gold Investments will not only remain high during 2010, but goes so far as to suggest the precious metal will be an attractive proposition "for years to come".

It notes that the performance of gold in recent months has been buoyed by fear among buyers over long-term economic conditions in countries around the world as a result of the recent financial crisis.

However, CPM Group added in its report: "Even when economic conditions improve, investment demand is projected and expected to remain elevated."

This, it believes, is due to the long-term cultural shift in investment habits among individuals and organisations that often comes out of "economic cataclysms" - such as the Great Depression - and encourages a more cautious approach.

David Lee, a trader at New York's Heraeus Precious Metals, was in agreement with such an outlook.

He told Reuters that investors are becoming "risk averse", adding: "They are trying to flock to something that is more stable, such as gold."

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