Gold News

Gold Investment demand holding firm, says AngloGold

AngloGold Ashanti has claimed today (November 2nd) that demand for Investing in Gold remains strong around the world.

In its latest financial results, the world's third-largest gold producer has conceded that jewellery purchases are flagging in the current economic climate, apart from in China.

However, it noted that this trend is being "mitigated" by solid levels of Gold Buying for investment purposes in regions such as India, the Middle East, Turkey and the US.

"Global investment activity for gold remains strong and the market has stayed buoyant despite rising prices," said the company.

"The US market continues to experience robust investment demand with bar, coin and exchange-traded fund demand still rising."

Meanwhile, renowned economist Dennis Gartman, editor of the Suffolk, Virginia-based Gartman Letter, has provided his own endorsement of the value of gold investment.

He explained that any lulls experienced by the metal in the wake of its recent push and hold above $1,000 per ounce are simply a prelude to further gains in price.

"We are long gold. The trend is up and consolidations are merely resting points before new and higher highs are made," he said in a new report quoted by Bloomberg.

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