Gold News

UBS highlights increasing demand for gold investment

UBS, the world's largest gold trader, has released a new report which claims that international demand for gold is currently at unprecedented levels.

The Swiss-based firm disclosed an article entitled 'India Loves Gold' in its Metals Daily production yesterday (September 2nd) which outlined the advantages of investing in gold at present.

While demand has surged in India and the Middle East in particular, rising inflation on a global basis has also led to increased interest from European countries such as Turkey.

The report explains that with the end of the turmoil in the financial markets not yet in sight, buying gold will provide investors with a security net for the coming year as it is likely to surpass the $1,000 per ounce mark again.

One section read: "This combination of heavy long liquidation and stellar physical demand remains the main reasoning behind our strong call in gold."

The report comes after it was confirmed that gold imports into India rose by 56 per cent during August, as investors are being tempted back into the market after the recent small correction in the gold price.

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