Gold News

Investors in gold 'should buy in May'

A gold investment adviser has commented that people wishing to but the precious metal should do so before the end of May if they wish to capitalize on the currently good prices.

According to Franklins Sanders of the Money Changer, gold prices are unlikely to see any further significant corrections and could increase in the coming month.

"Gold price action … combined with the stock market and the dollar index, is consistent with my suspicion that silver and gold prices have already bottomed. It's possible still that we'll see a sudden, brief downward spike in gold prices, but that grows less likely every day," he said, according to the organization's website.

In related news, gold buying has seen an increase in India this week as stockists and industrial users hurry to purchase based on global cues. Sentiment in the developing country is now bullish as investors choose to move their assets away from stock markets and into bullion.

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