Gold News

'Pique' in gold investment interest expected in 2009

The World Gold Council (WGC) claimed yesterday (January 20th) that it expects the number of people investing in gold to continue to rise over the course of 2009.

The commercial organisation, which is funded by the world's leading gold mining companies, has released its latest 'Gold Investment Digest' report, detailing the performance of the yellow metal in 2008.

In the document, Natalie Dempster, head of investment for North America, expresses her belief that ongoing concerns over the financial crisis will ensure that investors buy gold this year as a store of wealth.

She said: "As we move into 2009, continued uncertainty over the financial landscape, combined with future inflationary fears resulting from interest rates cuts and quantitative easing by central banks, are likely to pique investor interest in gold further."

Ms. Dempster's comments were strongly corroborated last week by Simon Weeks, director of precious metals at the Bank of Nova Scotia, Canada's third-largest bank by asset value.

"There is certainly an element that views gold as a safe haven. As long as that interest continues, it is a very good signal for gold in the long term," he said in an interview with Reuters.

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