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Monday, 17th August 2009 (2870 views)

Investors in the Middle East are increasingly turning to physical gold as a way of protecting themselves from the effects of the recession.

Speaking to Reuters, Ahmed Bin Sulayem of the Dubai Multi Commodity Center (DMCC) said that investors in the region are snapping up gold bars and coins as confidence in the stock market continues to decline.

"Investing in gold right now is a no-brainer," he remarked.

Figures released by the DMCC show that gold bullion imports rose by 13 per cent in Dubai during the first half of 2009 compared with the same period last year, with the organisation attributing this to higher demand for gold bars and coins from investors.

Physical gold is also proving popular among investors in other parts of the world, with Bloomberg recently reporting figures showing that the UK Royal Mint doubled its production of gold coins in the second quarter to keep up with investment demand.

 

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