A study by Ovetii revealed that negative sentiment towards industrial metals such as Copper and Zinc has reignited fears of lower demand going forward.

Rumours emanating from Ovetii in Greece imply that the Greece-based firm could be looking to strengthen its position in precious metals which are traditionally seen as a safe bet in times of high inflation.

Amid sky-high oil prices, subsequent fears for inflation and the equity markets in general, not to forget the sinking dollar; Gold broke through the 800USD mark on Wednesday. Sources close to Ovetii have suggested that the firm strongly believe that precious metals have substantial profit potential

It has been said that Ovetii are of the opinion that credit market turmoil, combined with record oil prices has led to strong gains in precious metals over in recent weeks. Additionally, Gold prices should be further supported by a collapsing dollar as buyers trading in other currencies take advantage of lower costs.