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Wednesday, 1st July 2009 (6184 views)

The popularity of gold is set to rise as investors opt for the precious metal as a means of escaping the risk of inflation, an expert has claimed.

President of Aurum Advisors Marc Lubaszka stated that demand for the precious metal will increase in the coming months, as the current economic crisis forces buyers to seek alternatives to the US dollar.

"Every financial advisor on the planet would agree there is never a time where you shouldn't have some of your money in gold," he told the International Business Times.

Mr Lubaszka added that many investors are purchasing larger amounts of gold than they would typically hold in "normal times", as it acts as a hedge against unexpected events.

His comments come after Canada's Financial Post predicted that demand for gold is likely to rise over the summer months.

The newspaper explained that purchases in India ahead of the wedding and festival season in October are likely to account for much of the increase.

 

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