Gold investment demand rises

NEW YORK (Scrap Monster): Investment demand for gold is rising, said market watchers.

Gold holdings in exchange-traded funds rose 2.1 million ounces during the month of August and added a further 253,000 ounces since Friday's close to record new all-time high levels of holdings interest, said TD Securities.

Alex Thorndike, senior trader, precious metals and foreign exchange at MKS Capital, noted that ETF holdings reached the record of 2,467.822 metric tons, which is supporting the yellow metal.

Additionally, the Comex open interest numbers have shown solid gains of late with an 8.6% jump in the aggregate open interest number during August, TD Securities concluded.