Gold News

Gold Investments continue to appeal to buyers

Investing in Gold appeals to so many because the precious metal is seen as a safe short and long-term bet, unlike other commodities.

That is according to Mineweb's Lawrence Williams, who wrote on the site that the yellow metal remains a strong lure for investors despite how base and ferrous metals are performing, and will continue to do so in the future.

He added that the strength of gold lies in its association with safety, highlighting how it was much more resistant to the collapse in metal prices that occurred during October 2008 than other commodities.

"Indeed gold remains one of the few commodities which is still trading at higher levels in dollar terms than it was pre-metals price meltdown," Mr Williams suggested.

Meanwhile, Reuters reports that an article by German magazine Focus suggests the European country's Finance Ministry is proposing that eurozone nations pool their central banks' gold reserves to back a European Monetary Fund.

It is anticipated that such a move could be used to provide struggling eurozone countries such as Greece with financial aid. The Focus report suggests that Germany's Bundesbank has 3,407 tonnes of gold.

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