New types of investors flock to gold - Thursday 27th September 2007

An economic advisor at the World Gold Council (WGC) has said that the current boom for the precious metal has led a broader range of investors than ever to buy gold.

Gold bullion investors are now drawn from a wide range of categories, with different intentions and different purchasing potential, as the metal's safe-haven appeal has kicked in and kept its price at bullish levels.

Discussing the new golden demographic, Jill Leyland of the WGC, told BBC Two's Working Lunch program: "You've got a lot of individuals, both what you would call the man or woman in the street, but you've also got a lot of high net worth individuals, family funds.

"You've got pension funds, mutual funds, other funds like that and of course you've got some hedge funds as well."

Explaining the reasons why so many different people were now flocking to buy gold, Ms Leyland highlighted the safe-haven appeal of what is seen as a unique investment, bridging the divide between monetary markets and commodities.

"It's no-one's liability unlike dollars, pounds, shares, bonds. It's yours if you've got it," said Ms Leyland, confirming the popularity that has seen gold prices rise beyond many people's expectations, hitting 28-year highs along the way.
Goldbug, 27 Sep '07

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