Gold News

WGC: Gold Investment demand to remain strong

A prominent official at the World Gold Council (WGC) suggested today (August 19th) that Gold Investment will continue to play a major role in overall demand.

The yellow metal has been on a sustained bull run since 2001 which intensified in the wake of the financial crisis as investors searched for an asset to provide a store of wealth.

Rozanna Wozniak, investment research manager at the WGC, explained in an interview with Reuters that Buying Gold as an investment is showing no signs of losing popularity.

"While some of those investor flows have abated from the extremes we saw during the peak of the crisis, they are still running well above the levels of last year," she told the news provider.

Meanwhile, a survey of five of India's seven biggest jewellery retailers has shown that they are expecting gold demand in the country to remain strong in the next few months.

"The response from the fair is quietly encouraging despite the existing situation," Suvro Chandra, director at PC Chandra Jewellers from Kolkata, told Reuters, which carried out the research.

"We have received fairly good response from south India. We would be happy if we grow slightly (in 2009) as festivals and marriages are coming up."

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