Last Updated : 07 September 2010 at 10:05 IST
Investors in US, Europe go for gold
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"Gold demand increased 115 percent in the second quarter of 2010, as European and American investors were buying gold in response to the government bond financial panics in both Greece and Spain. In fact, during the second quarter, Europe accounted for more than 35 percent of the retail purchases of gold coins during the period," said a statement from the WGC.
The World Gold Council reported recently that they expect gold demand to remain high for the remainder of the year. Retail gold investors are buying gold and supporting the price of gold coins at current levels and if China relaxes restrictions on the gold market, gold coin demand will really accelerate.
Increased demand for gold bullion and gold coins could provide a price support for current investors. If China relaxes restrictions as expected, the price of gold will really accelerate.
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