A prominent analyst claimed today (November 23rd) that increasingly diverse types of investor are now Buying Gold, Bloomberg reports.
The yellow metal has provided a solid safe-haven purchase during the economic crisis, mainly due to the inverse relationship it tends to share with the US dollar.
Stefan Graber, from leading financial services group Credit Suisse AG in Singapore, has explained that a wider demographic is being drawn to gold by a growing number of economic factors.
"Investor interest has spilled over from those seeking a hedge against the dollar to other buying interests, such as central-bank buying," he told the news provider.
A similarly optimistic outlook on the future of Gold Prices was offered last week by Walter de Wet, an analyst at Standard Bank, which is the largest bank in Africa.
He noted in an interview with the Wall Street Journal that he would not recommend betting on the metal to fall as it seems to be pressing ahead with solid momentum.
"Despite weak US consumer confidence data, risky assets such as equities and commodities have rallied," he told the news provider.
"Liquidity seems to have drowned the market's fears. Gold is bullish and there is no sense in shorting the metal."
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