Gold News

Buying Gold is 'true safe haven'

A leading industry analyst has suggested that the true value of Investing in Gold will be recognised in 2010 as the global economy continues to falter.

John Embry, chief investment strategist at Sprott Asset Management, the Canadian-based investment management firm, recently wrote an article for Investor's Digest of Canada in which he suggested that 2010 could prove to be a good year for those Buying Gold.

He said: "I expect 2010 to be a banner year for gold. In this [economic] environment, I anticipate that gold … will garner increasing recognition as the only real money and the true safe haven as the slow motion train-wreck of the world's fiat currency system begins to accelerate."

The attractiveness of the precious metal as an investment opportunity has also been championed by Alan Demby, South African Gold Coin Exchange chairperson, who believes the next few years could herald significant rises in Gold Prices, according to Mining Weekly.

He told the news provider: "Last year, the gold price started off at about $750 per ounce and by the end of the year, it stood at over $1,200.

"Personally, I think that the prediction of gold reaching $2,000 in a couple of years is not as extreme as it was a couple of years ago."

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