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Friday, 6th February 2009 (1677 views)

Demand for gold bars will rise by 49 per cent during the first half of 2009, compared with the same period last year, a new report has suggested.

Research firm GFMS predicted that demand for gold bars will reach 201 tonnes during the first six months of the year.

The London-based company has also forecast that gold could reach a record high during the first half of this year, as a result of a surge in investment, particularly from Europe and North America.

According to GFMS, risk aversion is the principle reason for the increase in gold and physical bullion investment, as individuals seek to preserve their wealth during the global economic slowdown.

Meanwhile, the Sunday Star Times has suggested that overseas buyers are boosting demand for gold in New Zealand, as purchases continue to rise.

Mike O'Kane, head bullion trader at the New Zealand Mint, explained to the newspaper that problems with large US banks had pushed up gold sales.

 

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