Gold News

GFMS: Gold Prices to rise from struggling currencies

Gold Prices could be set to rise on the back of struggling currencies, it has been suggested.

London-based GFMS has revealed in its latest annual survey on gold that the precious metal could be in line for a price spike as surrounding economic conditions make Gold Bullion an increasingly attractive investment opportunity.

GFMS said: "Looking ahead, further price gains were thought likely as the investment case was still perceived as strong, with for example all the major currencies now being questioned by investors."

Meanwhile, Deutsche Bank trader Michael Blumenroth has suggested that the market is holding steady on Gold Prices following the recent rise, citing its safe haven value as the primary reason.

He told Reuters: "We saw the upward move last week in gold and ... it seems the market is happy with the levels we are seeing. There is still some demand for gold for safe-haven purposes."

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