Gold News

Eurozone fears driving Gold Investment in smaller bars

While the default risk of Greece may have eased following the announcement of the European Union's rescue package, enough concern remains over the state of the eurozone to drive Gold Prices to new highs.

This is becoming apparent in the growing demand for smaller gold bars and minted products among European investors during recent months.

Bernhard Schnellmann, director of precious metal services at the Swiss refinery Argor-Heraeus, told Reuters: "We are seeing very, very high demand for smaller products. I would say ten times more than the first two months of this year.

"It all started after the euro crisis. The demand especially for small bars and minted products is extremely high, mainly from Europe."

Bud Conrad, chief economist of Casey Research, also highlighted the attractiveness of Gold Bullion in the face of economic uncertainty.

In an interview with the Gold Report, he said: "I think you'll do well by investing in gold. In some sense, gold is just plain a stable island. It doesn't change when you invest in it; you are really just making a solid savings position."

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