Physical gold is hot commodity

A senior figure at Heraeus Metallhandels GmbH says that there is strong demand for physical gold buying at present, Bloomberg reports.

Spot Gold Prices have been performing solidly for investors and are heading for their ninth annual gain in a row, which would be the best streak for over 60 years.

Wolfgang Wrzesniok-Rossbach, head of marketing and sales at the German firm, highlighted the weakness of the dollar, which shares a negative correlation with gold.

He explained that the lack of faith in the greenback is preventing any Gold Price corrections and is gradually pushing the metal further into record-high territory.

"There will always be a focus on the dollar. There's still a lot of interest for physical gold. There's now a tendency to buy on dips," he told the news provider.

Meanwhile, Adam Klopfenstein, senior market strategist at commodities brokerage firm Lind-Waldock, claimed last week that there is a "bullish fundamental case" for buying gold.

He explained that the yellow metal's renowned ability to provide a safe haven is at the heart of its continual surge because investors "want to own something tangible".

"It looks like the market is giving gold the green light regardless of what's going on in equities or the currency markets," he said in an interview with CNN Money last week.

Courtesy: www.bullionvault.com