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The Economist: Store of Value

LONDON, 9 July 2010 ? Best-selling business weekly The Economist again features today, this time in a detailed 3,000-word briefing on gold investment.

Now warning its finance, politics and business readership that "[gold's] attraction lies solely in the hope that its value will rise or at least be maintained," the magazine has been famously bearish on gold throughout its current bull market, which started 10 years ago.

Today it reports that "business is booming at of a number of web-based bullion dealers, which allow customers to buy title to gold bars stored in vaults deep beneath the ground in London, New York and Zurich."

The Economist then quotes BullionVault head of research, Adrian Ash, who last spoke to the world's leading business weekly in Feb. 2009.

"The sources of [BullionVault's] business are a guide to the sentiment driving many investors into gold," it says, adding that "At least some of BullionVault's customers are probably Germans unconvinced by the ECB's 'sterilisation' to offset the monetary effects of its bond purchases."

You can read the full story at The Economist here.

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The Economist