Buying Gold is the "ultimate safe haven", particularly in light of the financial situation in the US, a leading industry analyst has said.

Jeffrey Nichols, managing director of American Precious Metals Advisors, believes that the economic conditions in the US and the state of the dollar mean the safest way for people to look after their money is to Invest in Gold, according to Bloomberg.

He told the news provider: "Gold is the ultimate safe haven and the dollar, without the support of sound monetary and fiscal policies, is a depreciating asset."

Mr Nichols' championing of Gold Investment over support for the dollar is a sentiment supported by John Embry, Sprott Asset Management's chief investment strategist.

He told Mineweb.com: "The idea that the US dollar is a safe haven today is flat out wrong and that is going to be one of the major factors that are going to change the perceptions in the gold market going forward.

"There is a solid investment bid in the market for gold."

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