Gold is becoming an increasingly popular choice among investors again, following a lean period for the precious metal.
The commodity had lost its status as a safe haven in recent months as its value plummeted, but a recent rebound in its cost has interested investors.
Michael Cuggino, who manages a multi-million-dollar portfolio of assets at Permanent Portfolio Family of Funds, told Bloomberg that there is now some visible support for the precious metal.
This is on the back of comments from the Federal Reserve in the US that suggest the body is going to wait for an improvement in economic growth before tapering off its quantitative easing scheme.
Gold's value has been rising for the last couple of weeks after it became clear the Fed is considering bringing the programme to an end in the next 12 months.
Markets around the world were hit when chairman of the Federal Reserve Ben Bernanke claimed the quantitative easing scheme could be wound down as early as next year.
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