Gold News

Uncertainties 'will boost gold prices'

The world has not yet seen the end of its financial uncertainties, would-be gold investors may be interested to hear.

According to commodity specialists at leading world business news provider Fairfax, there will be some strengthening of the dollar, but this will be more of a "mini-rally" than the signal of an end to market crises and could push gold prices up.

The experts added that the rise in value of the Chinese currency could further increase gold demand in the developing country.

"These continued uncertainties will underpin gold prices. As for the appreciation of the renminbi (people's currency in China), we see this bolstering demand as the metal becomes more affordable to the domestic consumer," the organization said, according to Resource Investor.

Gold demand in China, as well as in India, has helped to drive gold buying in recent years as the countries industrialize and seek to increase their wealth by investing in commodities in a similar fashion to the west.

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