Gold could be safe bet for long-term investors

GREATER VALUE: Gold still remains a great investment and it still a worthwhile buy.

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New Delhi: Rising gold prices may be keeping you away from investing in gold but according to the World Gold Council there is a lot of steam left in the yellow metal and gold is still a safe bet for the long-term investor.

Gold still remains a great investment and in spite of hitting a new all time every day it's still a worthwhile buy.

World Gold Council Chairman Greg Wilkins said, “Institutional investors are investing in gold market as the gold price is on rise.''

Institutional investment in gold securities is a huge $27 billion accounting for over 850 tonnes of the precious metal.

According to the World Gold Council, US recession and weakness in the dollar are spiking gold prices and a fall in supply is expected in the next 3 to 5 years.

The council is actively pushing for retail investment in gold. With annual gold purchases touching the 1000 tonne mark, India will remain a hot destination for gold marketers.