Gold investors 'sick of stocks'

The continuing weakness of the dollar has turned investors off shares and onto gold bullion, it has been claimed.

Retail outlets are reporting high demand for gold as investors seek to place their money into a more safe and tangible outlet. This led to the average price of gold rising from $606.67 an ounce in 2006 to $700.11 an ounce in 2007, according to consultancy firm CPM group.

Meanwhile, the top share index in London fell by 1.8 per cent today (March 13th) in what is being widely reported as a general stock market hangover, leading to further unrest among potential stock investors.

Owner of Diemer's Coins, Jewelry & Collectibles Dan Diemer said he has bullion from several countries.

"People are kind of sick of the stock market and have moved more into coins and tangible incomes. It's the ease of mind if you have it," he commented to mlive.com

Prices of gold are forecast to rise still further after hitting a record price of almost $1,000 an ounce in London today, according to Reuters.

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