Investors Urged To Buy Gold in Survey

Source:

"According to the survey, which took place from Tokyo to Chicago on February 12th and 13th, 26 out of a total of 32 traders, investors and analysts said they were bullish on gold."

The vast majority of industry figures questioned in a new poll have advised buying gold as they believe it is set to appreciate further, Bloomberg reports today (February 16th).

According to the survey, which took place from Tokyo to Chicago on February 12th and 13th, 26 out of a total of 32 traders, investors and analysts said they were bullish on gold.

On the other hand, just five said they were bearish on the yellow metal and advised selling, while one respondent remained neutral.

The level of interest in Investing in gold has increased markedly in recent weeks as the metal has strengthened, with prices rising by 3.1% in the last week alone.

The results of the survey come after Hector McNeil from London-based firm ETF Securities explained that he believes gold prices still have considerable scope for rising.

"Though [gold's] value is relatively high, it is still less than half its price at the peak when it reached $2,300 an ounce on an inflation-adjusted basis," he told the Times.

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