The crisis in Cyprus increased interest in gold investment, as investors worried about the state of the euro zone crisis.
(PRWEB UK) 25 March 2013
Gold prices were pushed up on Monday from buying by jewellery makers in Asia, as well as being supported by a firmer euro after Cyprus reached a deal over its banking crisis.
The deal involves the winding down of Popular Bank of Cyprus also known as Laiki bank. Investors flocked towards gold earlier this month, as the Cyprus crisis re-ignited fears about euro zone debt, sending bullion prices to a one month high of around $1,616.
On Monday morning, gold was at $1,607.96 an ounce.
A spokesperson from Physical Gold said:
“The crisis in Cyprus increased interest in gold investment, as investors worried about the state of the euro zone crisis. Despite a deal now being reached, gold is still faring well from jewellery makers in Asia and a firmer euro, and will hopefully keep up its firm streak as investors watch how the crisis in Cyprus pans out.”
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.