Gold News

Strong physical Gold Buying 'for the rest of 2009'

An analyst at the largest bank in Africa claimed today (November 24th) that strong physical demand for Buying Gold should continue for the rest of the year.

Gold Prices have been regularly breaking their all-time highs in recent weeks through a combination of rising investment purchases and ever-increasing central-bank buying.

Walter de Wet, from Standard Bank, explained in an interview with Bloomberg that he can see the interest in gold bullion comfortably extending to the beginning of 2010.

"Buying in the physical market is still comfortably outstripping scrap selling, which we believe will continue for the rest of the year," he told the news provider.

Gold has provided investors with a safe haven during the economic crisis but it has also been traditionally associated with its ability to offer a hedge against inflation.

Last week, Joe Foster, portfolio chief for the Van Eck Global International Investors Gold Fund, explained that this attribute is shining through in the current climate.

"Investors are becoming increasingly uncomfortable with Fed policies and all the liquidity sloshing around in the global economy," he told CNN Money.

"They're looking to hedge against all potential inflation, hedge against potential asset bubbles and hedge against the weak dollar."

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