Gold News

Gold Investment to 'remain solid' due to portfolio diversification

The market for Gold Investment is to remain healthy in 2010 as people look to diversify their portfolio to brace the economic conditions, it has been suggested.

According to the World Gold Council (WGC), the coming year should not throw up too many surprises, with interest in Gold Investment set to rise as the global economy stabilises, the Indo Asian News Service (IANS) reports.

In a statement seen by IANS, the WGC said: "We expect investor support for gold in 2010 to remain solid. The search by investors and asset managers for portfolio diversification is expected to continue.

"As global economic conditions improve, jewellery and industrial demand are likely to continue to recover."

Demand in India however is waiting on a dip in Gold Prices, with investors hoping to pick up the precious metal for less than $1,100 per ounce and capitalise on future price rises, according to Reuters.

A Mumbai-based bullion dealer told the news agency: "People are playing the waiting game - they want levels below $1,100."

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