The future for gold investment is looking bright as inflationary fears continue to prompt buyers to use the precious metal as a hedge against inflation.
Forbes reports that the surging oil prices, inflationary pressures and the release of negative economic data lat week have all restarted the trend of buying gold, according to analysts at Ireland's Gold Investments.
Gold generally moves with the price of crude oil, since the latter fuels inflation and gold is seen as a safe barrier against losses from it.
Meanwhile, gold buying is also strong in India, with Vikas Vaid, assistant vice president at Asit Mehta Commodity calling the precious metal "an out-and-out buy", reports the Economic Times.
Although there may be some corrections in gold prices in the coming months, analysts have said that this is to be expected during a strong rally such as the one seen in recent months.
Those looking for an opportunity in gold investment may also be interested to note the supply and demand fundamentals, with a declining supply of gold worldwide potentially leading to an increase in gold prices.
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