Gold News

Gold Investment still popular 'for safe-haven appeal'

The head of the Dubai Multi Commodities Centre (DMCC) has claimed that Gold Investment remains attractive against the backdrop of a turbulent economy.

Industry dignitaries from institutions such as Standard Bank, the World Gold Council and GMFS descended on the emirate yesterday (April 27th) for the DMCC Gold Convention 2009.

Speaking ahead of the forum, DMCC executive chairman Ahmed bin Sulayem explained that the considerable volatility in financial markets at present is pushing investors to Buy Gold for a store of wealth.

He said: "As an asset class, gold has retained its allure and safe-haven appeal amidst the current challenging economic environment."

Mr. Bin Sulayem's comments come after Stephen Roseman, head of the Thesis Capital fund, expressed his belief that inflation could return in the coming months, a scenario which would boost gold prices.

"Most businesses operate better with a modicum of inflation but there is a real potential for us to overshoot inflation limits on the upside," he told Forbes.

"In that environment investing becomes trickier. Long gold is most investors' go-to when faced with inflation."

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