Gold News

Gold Prices continue to climb

Gold Prices have continued to climb as what has been a positive few days for the precious metal continues.

The yellow metal has benefitted from a surge in demand from investors looking for ways of using their money other than backing currency, according to Bloomberg's BusinessWeek.

The news provider said: "Gold futures climbed for a fourth time in five sessions on stronger demand for an alternative investment as currencies weakened and equities dropped."

Meanwhile, Standard Bank analyst Walter de Wet said that the precious metal's performance would only continue to improve.

He told Reuters: "Gold has performed very well, and it is going to continue to perform well if things get worse."

"People are concerned about sovereign credit risk and this is going to stay around for some time. This type of risk is not solved in a week, or a month."

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