More attracted to gold savings account

PETALING JAYA: Banks’ gold savings accounts are expected to continue to gain popularity in anticipation of an uptrend in gold price and investors’ desire to diversify their investment portfolio in the current uncertain global economic conditions, industry experts said.

Malayan Banking Bhd (Maybank) deputy president and head of community financial services Lim Hong Tat said the number of Maybank Gold Savings Accounts had been growing an average of 8% every month so far in the current financial year ending June 30, 2011 (FY11).