Physical Gold Responds to Gold Heading for Second Straight Weekly Gain

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Leading UK gold dealer, Physical Gold, has responded to gold prices rising on Friday helping gold head for its second straight weekly gain.

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The moves by both central banks have helped fuel bullion’s appeal as a hedge against inflation, with spot gold rising by $8.32 an ounce on Friday morning to reach $1,474.56 an ounce.

Cuts in interest rates by the European Central Bank and the US Federal Reserve’s decision to stick to its stimulus programme has helped gold continue its run, allowing it to head for its second straight weekly gain.

The moves by both central banks have helped fuel bullion’s appeal as a hedge against inflation, with spot gold rising by $8.32 an ounce on Friday morning to reach $1,474.56 an ounce.

Gold recently benefited from a surge in demand as investors made use of lower prices, with some gold dealers reporting shortages and waiting lists.

A spokesperson from Physical Gold said:

“While gold may be experiencing lower prices at the moment, this has surged demand for the precious metal with many investors wanting to make use of a good deal on gold at the moment. Coupled with supporting factors from central banks, gold investment should continue to be an attractive option.”

Physical Gold Ltd is a leading UK gold dealer, helping investors diversify their portfolios with innovative investment solutions. Renowned for their ground breaking products such as the Sipp gold and Gold Accumulation Account, the firm specialise in providing customers with tailored assistance in sourcing the best gold for their personal requirements. Based in London, the team are BNTA accredited and have an unrivalled knowledge of the gold market as well as an exceptional understanding of the general financial markets.

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Dan Fisher
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