Gold News

Physical demand for Buying Gold 'to pick up soon'

Prominent analyst Suki Cooper explained today (July 21st) that she expects Gold Prices to increase from the end of August onwards, Forbes reports.

Physical demand for the yellow metal has traditionally been weak over the summer months but this is often followed by a run-up as investors return at lower prices.

Ms. Cooper, from Barclays Capital, the third-largest investment bank in the US, has expressed her belief that the situation will be no different this year.

She told the news provider: "When we get towards the end of August and September, we will see physical demand picking up ahead of Diwali and ahead of the wedding season.

"Prices are more likely to gain upward momentum then."

Ms. Cooper also intimated the value of the dollar, which shares an inverse relationship with Gold Prices, will be the main driver of the metal in the next few months.

Meanwhile, Simon Weeks, head of precious metals at the Bank of Nova Scotia, the third-largest bank in Canada, claimed that buyers are already returning to invest in gold.

"Buyers are back as they focus on an alternative to currencies," he commented in an interview with Reuters.

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