Gold News

Greece crisis 'supportive' of Gold Investment

People looking to Invest in Gold but holding back as a result of the financial crisis in Greece are missing an opportunity, one industry expert has inferred.

VM Group analyst Matthew Turner believes that the Greece predicament can only be beneficial for the long-term state of the precious metal, with the commodity likely to react well to both devaluation and inflation, according to Reuters.

He told the news provider: "You would hope gold would be doing well, given all the problems in Greece, with government debts and so on.

"The Greece crisis has been a bit overblown, but it is still ... causing nervousness among investors. The solution to all these debt problems seems to be either devaluation or inflation, both of which are gold supportive."

While individual gold investors continue to consider the balance of market nervousness and investment opportunity, one collective market than seems to be doing little but buy is India.

According to data from the Indian Bullion Market Association, the Indian gold jewellers' trade body, gold imports rose to a three-month high in January to 37 tonnes, according to Mineweb.

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