'Strong year for precious metals' could boost Gold Investment

Peter McGuire, managing director at CWA Global Markets Pty in Sydney, has suggested that 2010 will be a good year for Investing in Gold.

Speaking to Bloomberg he said that gold will be "the place to be" for investors as increased optimism in global economic growth is pushing up both stock and commodity markets.

Furthermore, this trend is at the expense of the dollar, bringing into play the benefits of Buying Gold as a safe haven.

He told the news provider: "The trend will continue. It will be a strong year for precious metals."

Suki Cooper, an analyst from Barclays Capital, recently suggested to Reuters that current fears over inflation and the state of the US economy could lead to an increase in Gold Prices in the long term.

She told the news provider: "The investment sentiment towards gold is very positive,"

Her comments came as the spot XAU price for gold rose to $1,096.50 from $1,092.85 an ounce towards the end of last month.