Gold News

Rogers: Demand for gold bullion on the rise

A leading commodity investment expert has predicted that gold is set to embark on a bull run in the coming months.

Demand for buying gold is beginning to return after several months of cooling since the record high price of $1,030 in March.

Investors are being attracted by the prevailing low prices, which are also causing refiners to take a hard line with sales.

Now Jim Rogers, co-founder of the Quantum Fund and creator of the Rogers International Commodities Index (RICI), has explained that a period of sustained gold price growth could be on the cards.

He said in Bangkok last week: "Unless the supply multiplies, demand slumps or economies crash, the commodity boom is likely to continue."

The increase in demand is being felt particularly strongly in India, where jewellers are struggling to import enough gold to satisfy consumers.

As Mr. Rogers added: "India imports gold bars weighing a maximum one kg and 100g, compared to the standard bar size of 12.5 kg. Therefore, the availability of 1 kg and 100g bars is tight."

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