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Wednesday, 19th October 2005 (6747 views)

An official at the World Gold Council has said that more people could be investing in gold.

Generally it is private banks who are covered that have traditionally invested in gold, but now it appears that investors with long term strategies who are not covered by the private banking sector are getting involved.

Head of asset allocation research at the World Gold Council, Katharine Pulvermacher, told Reuters: "We are just starting to see a transition. We are seeing the tip of the iceberg."

Exchange-traded gold funds have compiled 280 tonnes in the last 2.5 years. These funds are traded in bars of gold as opposed to shares.

Some current funds on the market are StreetTRACKS, Gold Bullion Securities and COMEX Gold Trust.

 

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