LONDON, 12 October 2012 - The world's best-selling business and finance weekly, The Economist, today cites BullionVault as evidence of growing investor interest in physical gold bullion.
"One way of explaining gold's rise is as an alternative currency," says Philip Coggan, winner of Spear's magazine's Business Book of the Year Award 2012, and author of The Economist's highly respected Buttonwood column. "On this view, gold's surging value is related to investors' nervousness about paper money.
"David Bloom of HSBC reckons that central banks have created $9 trillion of money during the crisis, equivalent to the value of all the gold that has ever been mined...Goldman Sachs reckons that current real rates [of interest, after allowing for inflation] are compatible with a gold price of more than $2,000 an ounce."
Although gold now "hovers some way of" that level, says this week's Buttonwood column, it "does not seem to be down to a lack of investor enthusiasm. BullionVault, which allows retail investors to buy and sell physical gold online, has seen a preponderance of buyers over sellers every month since early 2010."
You can read the full report at The Economist here...
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