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Buying Gold 'a convenient way' to hedge against inflation

Portfolio manager Axel Herk suggested today (June 2nd) that Gold Investment could prove prudent if a period of inflation emerges in the coming months.

Some commentators have indicated recently that the major fiscal deficits being run up around the world could lead to a spike in inflation when the economy finally begins to recover.

Mr. Merk, who manages the Merk Hard and Asian Currency funds, has now added his name to that list in an interview with Reuters, highlighting Buying Gold as a way of hedging against such an eventuality.

"Gold, when it does grab the attention of people, is a convenient way to protect against the upcoming inflation," he told the news provider.

Those comments were backed up last week by Daniel Sacks, manager of the £50 million Investec Global Fund, who noted that gold prices could rise significantly if investors act on their fears over inflation.

"Gold appears to be benefiting both from being the traditional hedge for inflation hawks, some of whom are now beginning to worry about the risk of hyperinflation, and from the mistrust of some investors towards cash assets and government obligations," he told the Daily Telegraph.

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