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Friday, 23rd January 2009 (5961 views)

The outlook for gold investment is "robust", despite the current economic downturn, a new report has claimed.

In an interim update to its annual gold survey, GFMS stated that gold will help to safeguard investors this year against recent fiscal decisions that could weaken the dollar, according to Mineweb.

The report predicted that fiscal and monetary commitments by both the outgoing Bush and incoming Obama administrations in the US "are too large to be financed by orthodox means" and could further weaken the dollar.

GFMS forecasted that gold is likely to "benefit handsomely" from erratic money markets and concerns about the security of other forms of investment.

The study also highlighted a boom last year in gold coin sales and bar hoarding, particularly in Japan, China, Thailand and Vietnam.

According to GFMS, minting rose by 40 per cent in 2008 reaching a 21-year high.

Meanwhile, a hoard of 824 Iron Age gold coins crafted by the ancient Iceni tribe has been discovered in a field in Suffolk.

 

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