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Tuesday, 3rd November 2009 (686 views)

Investors are increasingly viewing gold as the only vehicle that is safe in the current economy, an expert has said.

Speaking at the London Bullion Market Association's tenth annual conference in Edinburgh, Produits Artistiques Metaux Precieux managing director Mehdi Barkhordar said that physical gold is "regarded as the only secure asset" with the economic climate still uncertain.

He went on to add that the precious metal is now a "mainstream" option for investors, commenting: "There is a fundamental shift in the dynamics of the gold market," the AFP reports.

Kevin Crisp, chairman of the London Bullion Market Association, also told Reuters at the event that gold prices are still being supported by economic concerns.

"I still feel the global business outlook is still a little cloudy. That means that many people are wanting that insurance policy," he remarked, before going on to echo Mr Barkhordar's assertion that gold investment is more mainstream than it used to be.

The conference began on November 1st and will end later today (November 3rd).

 

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