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Gold Investment demand to recover in 2010, says WGC

Gold Investment demand is set to recover in 2010, the World Gold Council (WGC) has forecast.

It is suggested that an appetite for Gold Bullion and jewelry will see markedly better levels of market activity for the precious metal compared to 2009, when demand fell by 11 percent, according to Reuters.

Rozanna Wozniak, investment research manager at the WGC, said that China would have a big part to play in the market's upturn.

She told the news provider: "I would expect to see a plus sign at the end of the year. (China) has been buying gold locally, and I would expect them to continue to have that preference.

"We are not going to see levels of the first quarter (of 2009), but on the historical basis (the demand) is still going to be strong."

Meanwhile, Yi Gang, the head of the Chinese State Administration of Foreign Exchange, said earlier this month that China would make its Gold Investment decisions from a strictly economic perspective.

He said: "China is a responsible investor, and we don’t want to politicize the issue.”

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