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Monday, 13th July 2009 (815 views)

Older investors are particularly likely to invest in gold, according to one expert.

Speaking to the Canwest news service, David Salloum of RBC Dominion Securities explained that older people tend to be "more receptive" to the idea of investing in gold than other age groups.

"Traditionally gold holds its purchasing power. An ounce of gold in Roman times bought 300 loaves of bread - and it's roughly the same number now," he remarked.

Gold investments have become particularly popular during the current economic crisis, with Jeremy Charles, chairman of the London Bullion Market Association, telling the Daily Mail last year that he had never seen such high demand for the precious metal in his 33-year career.

He added that the gold refineries could not "produce enough" gold bars to keep up with soaring consumer demand for the yellow metal.

 

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