LONDON, 12 May 2010 - Gold trading and ownership service BullionVault.com features online today at Il Sole 24 Ore, Italy's leading financial news provider.
Alongside short comments from BNP Paribas and Barclays bank in its latest gold-market report, the paper quotes BullionVault's head of research, Adrian Ash, at length.
"Huge volumes of cash are looking for insurance against risk," says Ash. "Before the Greek crisis exploded, this insurance had a lower premium. Now that the situation is much worse, the premium - that is the gold price - has risen."
Il Sole 24 Ore notes that the price of gold in Euros has risen 27% so far in 2010 - an "impressive performance".
"The fundamentals look strong," says Adrian. "Nevertheless, investors should expect volatility. After Lehmans' collapsed, hedge funds trading gold couldn't borrow money and were forced to close their positions. The consequence was a sharp, if short-lived price fall."
You can read the full report, in Italian, at Il Sole 24 Ore here.
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