Gold Bullion has been championed as an effective investment tool in time of economic uncertainty.
Nicholas Brooks, head of research and investment strategy at ETF Securities, the London-based investment management firm, believes that Gold Investment offers financiers an opportunity to put their cash into a safe haven asset, according to Mineweb.
He told the news provider: "In February we saw the Gold Price hit an all-time-high in both euro and in sterling. It is quite a significant event when it moves to an all-time-high in two of the other world major currencies.
"That highlights to me that investors are all looking at gold as a place to put cash during a period when there are growing concerns about government intentions and government policies."
The precious metal's safe haven qualities have also been highlighted by Anand James, chief analyst at Geojit Comtrade, a trading services firm based in India, who states that the surrounding market conditions could push up Gold Prices, according to the Economic Times.
He told the news service: "Safe haven premium and inflation hedge status due to firm oil prices could drive the yellow metal towards $1,160."
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