Gold News

Quarterly Gold Buying demand 'up by ten percent'

A new report released today (November 19th) has suggested that demand for Buying Gold was boosted by investment inflows during the third quarter of 2009.

Leading marketing organization the World Gold Council conducted a study which found that demand for the yellow metal was up by ten per cent on a quarterly basis.

Rozanna Wozniak, investment research manager at the group, explained that interest is still remaining strong despite the high Gold Prices being witnessed in the present rally.

"In the west it's been economic factors that have predominated more than anything else," she said in an interview with Bloomberg.

"Investor flows have been driven by financial sector uncertainty, by retail investors looking to protect their wealth."

Meanwhile, Adam Klopfenstein, a senior market strategist at futures broker Lind-Waldock, has explained that gold is being buoyed by two main types of investor.

With the current confusion over the progress of the global economic recovery, he noted that gold's ability to shine in any financial climate is causing both inflation-hedge and safe-haven buying.

He told the Wall Street Journal: "The first group are those who think the economy is recovering, so they are seeking riskier assets such as gold.

"The second are those who are buying gold for its more traditional role as a safe-haven investment because they believe the rally in equities will collapse."

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