Gold News

Investment in gold trend set to continue

A new report compiled by Barclays Capital has, according to Bloomberg, reiterated the message that investing in gold will be seen as a way out of the global economic turmoil.

The short-term appeal of gold rose slightly on Friday (October 17th) after the US dollar lost ground on the euro as people turned to investing in gold as an alternative to the currency.

Kevin Norrish, who led the team of analysts at Barclays Capital, believes that this trend is likely to be continued as other investment opportunities lose their lustre.

"Amid the volatile price action, gold is likely to act as a safe haven and provide relative stability," the news provider quotes him as saying.

As well as falling against the euro, the dollar also declined in comparison to the British pound and Swiss franc.

This tail-off has been attributed to the growing sense of desperation in the US housing market.

Significantly, it may also be due to a predicted interest rate cut by the Federal Reserve - a sure indication that the price of gold will rise.

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