Gold Investment 'gaining traction'

An increasing number of investment firms are buying gold on the back of resurgences in the US market.

That is according to Johannesburg-based AngloGold, which said in its earnings statement today (February 17th) that the state of the markets was leading to an upturn in investment across several domains, reports Bloomberg.

It said: "The US market continued its rally with the case for Gold Investment gaining traction with both retail investors and institutions.

"There is now also talk of significant bar purchases by some of the larger buyers which are opting for bullion," according to the news provider.

Meanwhile, Proactive Investors, the investment UK website, said the attractiveness of Gold Investment is likely to increase as a result of the current events in Greece.

It said: "Gold is seen as an alternative investment and moves inversely to the American currency, which weakened against the euro yesterday amid hopes of an imminent resolution to Greece's debt situation."

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