Gold News

'Shift away from risk assets' boosting Gold Investment

A prominent figure at OptionsPro Corporation suggested yesterday (September 2nd) that Gold Investment is on the rise, Bloomberg reports.

The yellow metal appears to be eyeing a move towards the $1,000 per ounce mark after slowly building momentum in the past couple of weeks.

Now Al Abaroa, a senior commodities strategist at the Florida-based firm, has explained that risk appetite, which had been on the increase, is now making way for a desire to Buy Gold.

He told the news provider: "The global mood shift away from risk assets has investors rushing to seek comfort in gold.

"We would look for a temporary decoupling effect in the dollar as well."

A similarly optimistic assessment of the metal was outlined last week by Sino Gold, which currently holds the second-largest gold mine in China.

Amid reports that Eldorado Gold is mounting a takeover bid for the Australian firm, it released a statement indicating that it believes the future of gold is bright.

"The gold price outlook remains strong and Sino Gold's shareholders will fully benefit from an increasing gold price as the company is completely unhedged," it said, according to AAP.

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