Buying gold is still a safe tactic

Investors looking to buy gold have been reassured that it is still as much of a safe haven against a failing economy as it has ever been.

Bob Chapman, one of the world's leading gold traders between 1960 and his retirement in 1988, has spoken out to describe the recent rally in the dollar as "phoney".

In a detailed and far-reaching explanation in the latest edition of the International Forecaster magazine, he holds that the US recession is far from over.

He makes the controversial claim that the situation is being deliberately perpetuated by insider money men, who are looking to sink the dollar to its knees to make a killing on 'real' assets.

Whether or not Mr Chapman's more partisan views are to be believed, he is certain about the correct course of action from an economic point of view for people investing in gold.

He said: "All interests in gold and silver ETFs and in mint certificates should be gradually liquidated with the proceeds used to purchase gold and silver bullion."

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