Rising euro boosting Gold Investments
Consensus in Europe on Greece and a resultant strengthening euro coupled with strong physical demand are boosting demand for Gold Bullion.
That is according to Gold Investment expert Darren Heathcoat, head of trading at Investec Australia in Sydney - part of the specialist banking group that also has headquarters in the UK and South Africa and enjoyed revenue of £2.6 billion in 2009 - who expects Gold Prices to continue rising in the future.
Speaking to Reuters, he said: "I do think we might get a little bit of a recovery in euro which will help it. I still maintain the feeling that we'll see it bounce again.
"Probably there will be more buying on the dips. We'll look the trend to resume."
Meanwhile, Michael Kempinksi, senior trader at Commerzbank, the second largest bank in Germany, has told Reuters that investors Buying Gold continue to turn to small coins and bars as a safe haven.
"As prices drop we see good physical demand in general, which is absorbing some selling in the market," he added.
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