Gold News

People Buy Gold as they want 'something tangible'

A London-based bullion dealer has explained today (April 2nd) that Investing in Gold is on the rise as people are looking for a store of value, the Economist reports.

Recent World Gold Council data show that retail demand for Gold Bullion was almost five times higher in the fourth quarter of 2008 compared to the equivalent period 12 months earlier.

Now Sandra Conway from ATS Bullion has explained that the latest rush took off in earnest last September as investors desperately looked for a safe haven after the fall of Lehman Brothers.

She told the news provider: "People want something tangible in their hands as a safeguard."

Similar sentiments were expressed by Oliver Temple, who runs Gold Investments, a London-based family business which provides consumers with physical gold.

He explained that at a time when most asset classes have been underperforming and financial markets have suffered dramatically, buying gold represents a sound investment.

"People assume that, if everything else in the world goes wrong, gold will hold its value," he told the Economist.

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