LONDON, 24 April 2012 - World-leading online gold and silver exchange BullionVault features today in a report on the gold market by Frankfurter Allgemeine Zeitung, Germany's best-selling national newspaper.
"Political crisis in Holland, France, Spain, and a weak economy across the European Monetary Union would be good reasons for a rising gold price. The precious metal has always served as a haven of safety. But despite renewed turmoil in the markets, gold prices are trading lower."
FAZ quotes Marcus Grubb - managing director for investment at the World Gold Council, which "represents the interests of the industry and is actively involved in boosting physical demand for gold" - suggesting that the current price weakness is also due to banks lending out gold to raise cash.
"The WGC is a 10% shareholder in BullionVault, the London-based company for trading and storing physical gold," says the newspaper. "London is the biggest market place for physical gold in the world."
You can read the full article at FAZ here or in English translation here...
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