The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Tuesday, 26th May 2009 (1033 views)

Demand for gold is likely to remain strong during the current economic climate, it has been suggested.

The South Africa Gold Coin Exchange has identified an-all time high in demand, with chairman Alan Demby noting that this is set to continue.

He explained that values in the country over the course of 2008 were 80 per cent higher than in the previous year, while demand in India was up 84 per cent.

And Business Intelligence Middle East quoted Mr Demby as saying: "The rapidly growing demand for gold coins strongly suggests that the gold bull market is well set to extend itself strongly into the future."

His comments come after Bill O'Neill of Logic Advisors observed that demand for the precious metal is likely to increase further.

According to Mr O'Neill, interest in gold is growing due to concerns about inflation, as it is seen to be a reliable investment.

 

« Back to Gold News stories