Gold News

GFMS chief predicts strong 2009 Gold Investment

A senior figure at GFMS has suggested that the current economic conditions are "very propitious" for Investing in Gold, reports Gold Investing News.

The ongoing effects of the global financial crisis have seen nearly $1.3 trillion in credit losses and writedowns reported by banks struggling to stem the tide of debt.

Now Philip Klapwijk, executive chairman of the precious metals research firm, has expressed his belief that the Gold Investment outlook for the rest of 2009 is extremely positive.

He told the news provider: "Conditions are very propitious for gold investments. We are going to see, after a bit of a lull, investment demand come back with a vengeance."

A similarly optimistic view was expressed last week by Pradeep Unni, an analyst at Dubai-based firm Richcomm Global Services DMCC.

In an interview with Bloomberg, he explained that gold prices are likely to be "supported by the inflationary concerns due to the large bailout funds that have been pumped into various economies across the world".

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