Gold News

Gold investment still occurring in some countries due to 'threat of inflation'

A senior figure at the World Gold Council (WGC) has explained today (November 29th) that gold prices are likely to regain they momentum they had earlier this year, China Daily reports.

The precious metal traded at a record high of $1,030 per ounce in March after a sustained period of growth as investors bought it as a hedge against imminent inflation.

Prices have since cooled slightly but Natalie Dempster, head of North American investment at the WGC, has claimed that there will be a flow of international capital into gold bullion investment in the next year.

She told the newspaper: "Many countries are still under the threat of inflation, creating a strong demand for gold to hedge against a material hike."

Ms Dempster's view has been echoed by Ernest Chan, a director at Convoy Asset Management, who explained that gold prices will be backed up by sustained demand in India and China.

"Gold has an emotional significance to Chinese and Indians and gold ornaments are very common wedding and birthday gifts," he told China Daily.

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