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WGC: Gold Investment demand soars in Q1 2009

The World Gold Council (WGC) has suggested today (April 22nd) that Gold Investment appetite showed no sign of abating in the first quarter of 2009.

According to the mining companies' body, risk aversion, increasing concerns over the future of consumer prices and the desire for portfolio diversification are all contributing to the yellow metal's popularity.

Natalie Dempster, head of North American investment at the council and one of the authors of its latest Gold Investment Digest, explained that gold has served investors well during the financial crisis.

She said: "One reason the financial crisis has been so devastating for investors is that many alternative assets did not deliver on the promise that they would provide portfolio diversification.

"The same cannot be said for gold. Gold has been one of the few assets that has genuinely provided investors with diversification throughout the financial crisis."

That view was also expressed last week by Ajay Mitra, Indian subcontinent managing director for the WGC, who claimed that gold adds considerable value to any investment portfolio.

"The presence of a safe asset like gold in an investment portfolio ensures assured returns, which further adds to its appeal," he told the Hindu.

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