Gold Demand Increasing Amid ‘Impending Financial Turmoil’
SputnikNews.com
23.02.2016
The demand for gold has significantly increased in recent weeks. The sales are driven by the concern of many investors of impending turmoil in the financial markets, German newspaper Deutsche Wirtschafts Nachrichten (DWN) wrote.
The high demand for precious metals and gold exchange-traded funds (the so-called ETFs) has led to a significant increase in the price of gold on Tuesday.
The price has risen by 0.6 percent up to $1,215.70 an ounce, while the holdings by the world’s biggest gold fund, SPDR Gold, have risen on Monday by 19.33 tons and reached a total of 752.29 tons.
The surge even exceeded Friday’s rise, when the precious-gold price rose to a 3-month-high, reaching $1,165.50.
According to DWN, the current trend can be explained by several factors. These include uncertain developments in the global economy as well as the prospects of the monetary policy’s tightening by central banks.
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