Gold News

'Unchartered economic waters' leading investors to Buy Gold

A new report published today (July 9th) by the Wall Street Journal has indicated that small-scale investors are continuing to Buy Gold as they fret about the future of the economy.

According to the World Gold Council, identifiable investment demand for gold hit 595.9 tonnes in Q1 2009, representing a rise of 248 percent from the equivalent period in 2008.

Although Gold Prices have struggled of late, the report notes that the average investor is still keen to hold some of the yellow metal, mainly due to the implications of heavy spending by the Obama administration.

As Shawn Price, manager of the Touchstone Large Cap Growth fund, told the news provider: "When you're in uncharted economic waters, people buy gold."

Those comments were strongly corroborated last week by Marc Lubazka, president of precious metals asset management firm Aurum Advisors.

He explained in an interview with the International Business Times that the long-term investment appeal of gold is particularly strong at present because of the value it adds to a portfolio.

"Investors are taking larger positions in gold bullion now than during normal times not only as a hedge, not only as something that will provide protection, but also as an investment that will give them the growth that the rest of their portfolio is lacking," he told the news provider.

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