Demand for gold in UK can rise because of pension funds

May 3rd, 2014 by

British demand for gold will get a boost when gold is added to the list as a potential asset for pension funds. According to the bullion dealer Goldcore Ltd. the Financial Conduct Authority ( FCA ) is considering to allow gold on the asset list for retirement investments.

Gold as a mainstream asset

The decision on the possible inclusion of additional assets of the FCA will be taken in late June of this year. According to Mark O’Byrne, director of Gold Gore , the possible permission will lead to increased demand for gold and gold will be on the radar of more investors. Gold Core manages more than $ 200 million invested assets in precious metals, according to Bloomberg. O’Byrne indicated in a telephone response to Bloomberg that “if that happened, it would contribute to gold being seen almost as a mainstream asset”.