A senior figure at the World Gold Council (WGC) claimed yesterday (February 23rd) that she expects demand for Gold Investment to stay strong in the first quarter of 2009, Reuters reports.
Gold Bullion passed the $1,000 per ounce mark at the end of last week as investors continue to pour money into the yellow metal over concerns about the state of the economy.
With the WGC already reporting huge investment increases in the second half of last year, investment research manager Rozanna Wozniak has explained that she expects the trend to continue.
She told the news provider: "While all this uncertainty is out there, investment demand by all accounts is going to sustain gold demand.
"It's appropriate for investors to put a bit more into gold as an insurance policy against economic contingencies."
Ms. Wozniak's views were strongly corroborated last week by William Rees-Mogg, author of the 1974 work The Reigning Error, which studies historic movements in inflation.
He explained that buying gold is an excellent way for investors to give themselves a safe haven against systemic risk in the economy.
Writing in the Times, he said: "For longer than the past eight years I have been arguing that investment in gold is an essential insurance against financial shocks.
"People buy gold when they are nervous about the economy, and they are right to do so because gold is a unique commodity."
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