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Gold’s safe appeal attracts record interest
Sales of gold coins and bars reached their highest levels for more than a decade in the third quarter of last year while gold exchange traded funds saw record inflows as investors sought a safe haven from the crisis in financial markets.
The World Gold Council’s report provides confirmation of previously anecdotal evidence of record investor interest. The third quarter saw media reports that mints around the world had run out of gold coins as Lehman’s collapse sparked concerns among investors about the health of the world’s financial system.
‘Zero percent interest rate policies, governments printing money and monetizing debt, massive bailouts and stimulus packages, huge government deficit spending and competitive currency devaluations will be very inflationary and continue to make gold an essential diversification for the risk averse.’
