Gold News

'More people will buy gold'

Jewelers in the US have said that they expect gold prices to increase in the coming months as a result of investment in gold jewelry and positive perception about its value.

A spokesperson for the World Gold Council explained to the Associated Press that, although the dollar has seen a rally in recent days, confidence is still relatively weak and people want to invest in gold as a product that will last.

"A renaissance in gold is happening. Americans tend to like things as they become more expensive," said Duvall O'Steen of the World Gold Council.

She added that gold prices are likely to rise soon, since most jewelry is ordered several months ahead.

Official figures state that demand for gold in the form of jewelry was up by 22 per cent in 2007, although global supply was found to have fallen due to the increasingly difficult conditions involved in its extraction.

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