Gold Bullion hailed as safe haven to European economies

Gold Bullion has been hailed as a safe haven against European economies, many of which are still struggling from the fallout of the recession.

Gerhard Schubert, head of precious metals at Fortis Bank Nederland in London, said that the financial situation in several of Europe's nations, including Britain, made Gold Investment an attractive proposition as a result of the security it offers, reports Bloomberg.

He told the news provider: "We have Greece, there's also questions about Ireland, Spain, and Portugal, and what about the U.K. deficit. Gold is what it says on the tin: a safe haven."

Heraeus trader Alexander Zumpfe said that Gold Prices could be set to rise as gold looks to be settling and setting itself to move forwards, thanks to investor demand.

He told the Economic Times: "Investors are getting increasingly risk friendly. Gold has established itself above $1,140 … and it seems like we will see higher levels."

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