Buy Gold to enjoy unparalleled commodity safe haven
The safe-haven offered by Gold Investment has been championed today as gold rebounded stateside following its biggest drop in three weeks.
The Gold Price increase has been put down to an increase in demand for a safe haven from both falling prices among alternative commodities and the weakened US dollar, according to Bloomberg.
He Ruiyan, head of research at Hong Kong firm Xiamen International Trade Futures Co., anticipated that it could well be the attraction of gold as a safe haven that allowed it to avoid succumbing to price falls such as those experienced by other commodities.
He told the news provider: "Gold may be able to avoid being dragged down by other commodities because of its safe-haven status. We're seeing some flight to safety after China's tightening."
While gold may be reacting in part to the devaluation of other commodities, Bill O'Neill, from Merrill Lynch Wealth Management, recently suggested that the strength of such commodities would help Gold Price growth, according to the Times.
He went on to say that even if prices dipped, this simply presented astute buyers with a Gold Investment opportunity.
Mr O'Neill told the news provider: "Although the gold price may be volatile in the short term, the long-term trend is upwards, and investors should take advantage of any dips to increase their holding."
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