European Gold Investment rises on weak dollar
Physical demand and a weak dollar increased demand for investments in Gold Bullion this week.
According to one expert on Gold Investing, the precious metal represents a safe haven at the moment because of the stability it can offer during uncertain times.
Speaking to Reuters, Suki Cooper, an analyst from Barclays Capital, highlighted current fears over inflation and the state of the US economy as factors that could drive gold prices in the long term.
"The investment sentiment towards gold is very positive," she added.
Her comments came as the spot XAU price for gold rose to $1,096.50 an ounce this morning (December 22nd), up from $1,092.85 late yesterday.
This continuing strong performance is something that prompted Ian Henderson, of JP Morgan Natural Resource Funds, to claim last week that buying gold is an attractive proposition.
According to the Daily Telegraph, he said: "I think that gold is on an upward trend and perhaps $1,000 an ounce will be the new floor, although it could rise above $1,100."
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