Gold Investors’ Bargain Hunting Fuels a Surge
Investors in gold bullion, coins and jewellery are once again fuelling a surge in demand following a price drop yesterday
Report filed under: Gold Investment » Gold Investment News
Wed, October 01, 2008 - 6:09 pm EET
Bullion climbs as investors hunt for bargains following Tuesday’s 3.5 percent price drop and demand for bullion-backed securities, gold jewellery, coins and bars continues at unprecedented levels.
Gold quoted at $877.75/879.75 at 15.28 GMT against $869.95 in late New York trade on Tuesday.
The London Bullion Market Association (LBMA), the South African Rand Refinery which produces the Krugerrand and mint’s worldwide all report that they are working overtime in order to cope with the rise in demand.
It seems that gold investors’ bargain hunting is again fuelling a surge in demand…