An analyst at a leading firm has claimed today (February 20th) that Gold Investment is surging as people increasingly recognize the yellow metal's safe-haven qualities, Reuters reports.
Gold Prices are currently poised to pass their all-time high of $1,033 per ounce - which was attained last March - as other commodities struggle in the ongoing financial crisis.
Now Suki Cooper from Barclays Capital has explained that the price rally in the past few months has been underpinned by strong investment demand - a trend she expects to continue.
She told the news provider: "Investors aren't looking at the normal drivers - they are sidelining the dollar strength, sidelining deflationary concerns and lower oil prices.
"They are very much buying gold as a safe-haven asset. There is potential for us to breach the $1,000 level."
The suggestion that gold prices will remain high was echoed last week by Nicholas Brooks, head of research at London-based firm ETF Securities.
"I don't think people were clear where the gold price was going," he told Citywire.
"They were waiting to see. But now there is increasing conviction they will stay high."
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