Gold News

Buying Gold may rise as 'decade of inflation' is expected

Gold bugs received a boost today (May 14th) after an experienced Wall Street analyst claimed that inflation is set to undergo a major spike in the next ten years.

Ted Peroulakis, who has been working in the financial industry for 14 years and is a regular contributor to the Investor's Daily Edge newsletter, described Fed chairman Ben Bernanke as an "inflationist".

He noted that central banks around the world have been pumping money into the markets in order to tackle the recession and that inflation - against which people often Buy Gold as hedge - will return emphatically.

Writing on, he noted: "Inflation could really skyrocket, especially when we finally emerge from this recession.

"Inflation eats away at your purchasing power and takes away your wealth. One of the best ways to protect against inflation is to invest in commodities."

Meanwhile, Adrian Day, head of Adrian Day Asset Management, has suggested that Gold Prices are a "virtual certainty" to rise over the next two to five years, Mineweb reports.

Speaking at the recent New York Hard Assets meeting, he explained that the yellow metal - which tends to move in the opposite direction to the dollar - will blossom as the greenback is set to lose considerable purchasing power.

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