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CNBC: Gold had a great decade

LONDON, 7 January 2010 ? Spot gold prices rallied more than 26% in 2009, hitting fresh record highs and confirming the precious metal as the last decade's best performing asset class.

Talking about why gold beat all other investments over the last ten years, plus the outlook for 2010 and beyond, head of research at ? the simple, low-cost route to secure gold trading and ownership ? Adrian Ash was a guest today on CNBC's Strictly Money show.

"You've got to look at two issues in 2010," said Ash ? "low to negative real interest rates, and the kind of returns that investors can expect from other, competing assets, equities in particular."

Refusing to make a 2010 price forecast, "The key for most private individuals looking at gold is getting off default risk," said Ash. "That really squares the circle which characters like Nouriel Roubini don't get...wondering how gold prices could rise over the last 10 years when we didn't have strong inflation.

"It's because gold is a great deflation hedge as well ? a non-counterparty asset when you hold it as your own property."

You can watch the CNBC interview here...

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