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A leading UK-based financial markets analyst firm has explained today (October 30th) that gold buying has been sustained in recent weeks, leaving bullion dealers short of supplies.

Reports have suggested that demand remains strong around the world despite the host of bank bailouts and monetary injections into the markets over the past few weeks.

Now Alex Wallenwein of the Market Oracle has pointed out the fact that people have been buying gold in large volumes for some time now with a view to a long-term investment.

He said: "Real investors in real gold are enjoying their shopping spree - except that the spree turned into a treasure hunt as the shelves and display cases of gold dealers look more and more like the supermarket shelves in the old Soviet Union - bare."

While gold prices have shown uncharacteristically high volatility in the past quarter, a number of commentators have claimed that the demand looks to be sustainable.

With the future of a number of financial institutions still on a knife-edge and recession looming in several countries, the safe-haven buying motivated by nervousness could be prolonged.

As Natalie Dempster, head of investment for North America at the World Gold Council, explains: "That's certainly indicative of the amount of fear in the market just now."

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JULIAN PHILLIPS – one half of the highly respected team at – began his career in the financial markets back in 1970, when he left the British Army after serving as an Officer in the Light Infantry in Malaya, Mauritius, and Belfast.

First he worked in Timber Management and then joined the London Stock Exchange, qualifying as a member and specializing from the beginning in currencies, gold and the "Dollar Premium". On moving to South Africa, Julian was appointed a macro-economist for the Electricity Supply Commission – guiding currency decisions on the multi-billion foreign Loan Portfolio – before joining Chase Manhattan and the UK Merchant Bank, Hill Samuel, in Johannesburg.

There he specialized in gold, before moving to Capetown, where he established the Fund Management department of the Board of Executors. Julian returned to the "Gold World" over two years ago, contributing his exceptional experience and insights to Global Watch: The Gold Forecaster.

Legal Notice/Disclaimer: This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. Gold Forecaster/Julian D.W. Phillips have based this document on information obtained from sources they believe to be reliable but which it has not independently verified; they make no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. Expressions of opinion are those of Gold Forecaster/Julian D.W. Phillips only and are subject to change without notice. They assume no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Furthermore, they assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information, provided within this report.

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