Gold News

Flu pandemic fears 'could cause rush for Investing in Gold'

Darren Heathcote from Investec Australia has claimed today (April 27th) that Gold Investment could surge on fears over a global flu pandemic, Reuters reports.

Swine flu, a virus which is traditionally restricted to pigs, has been recorded in Mexico, the US, New Zealand, Canada and the UK, already killing over 100 people.

With scientists preparing measures to avoid a major worldwide outbreak, Mr. Heathcote has explained that the uncertainty may lead some people to Buy Gold for its safe-haven status.

"I am not too sure how the swine flu will play out," he told the news provider.

"The problem is the potential for this to explode to pandemic proportions, leaving a lot of people very wary. It may well benefit gold, as gold would be seen as a safe haven."

According to Alexander Zumpfe, a precious metals trader at German firm Heraeus, more conventional reasons for buying gold are also still at the forefront of investors' minds.

"Concerns about the banking sector have put equities under pressure and caused investors to look out for gold as a traditional safe haven," he told Reuters.

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