Gold News

Inflationary fears continue to fuel Gold Investment

Inflationary fears are set to continue to act as a foundation for Gold Investment, it has been suggested.

According to Bloomberg, Pradeep Unni, an analyst at Dubai-based Richcomm Global Services DMCC, economic stimulus packages being implemented by various governments will ensure that investors continue to see gold as a safe haven.

Mr Unni said this would play a part in ensuring that gold prices remain supported even though the global economy is showing signs of making a recovery.

Gold prices are likely to be "supported by the inflationary concerns due to the large bailout funds that have been pumped into various economies across the world," the news provider quotes Mr Unni as saying.

Another view is that the perception of economic recovery will be short-lived, something which could lead to gold prices hitting the $1,000 mark once more.

Indeed, Gerry Schubert, director of precious metals at Fortis in London, believes now is a good time to buy.

"Anywhere under these levels, down to $845 are all buy levels," he told Reuters.

Meanwhile, a fall in equities has further boosted the appeal of Gold Investment.

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