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Thursday, 26th February 2009 (1543 views)

Investors in a gold fund have seen their money more than double since October 2008.

According to ETF Securities, investors in the Russell Global Gold fund have made a 121 per cent return within just four months.

The exchange traded fund (ETF), which tracks the performance of gold mining firms, was the strongest performing fund in a report by the issuer.

Nicholas Brooks, ETF Securities head of research and investment strategy, suggested that, with government debt levels expected to increase over the coming years "there are good reasons for conservative investors and the general public to want to hold a portion of their assets in gold".

Trading in gold exchange commodities (ETC) holdings over the past three months has risen by 33 per cent, with gold assets now standing at $7 billion.

Gold prices have soared above $1,000 per ounce in recent weeks and investor demand for physically-backed investments remains high.

Chief investment officer of Cabot Money Management Robert Lutts recently told Reuters that investment in the stocks and shares of gold companies is likely to rise in the current economic climate.

 

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