Gold buying will continue as it is 'the ultimate safe haven'
The head of research at a major funds data company has suggested today (December 10th) that investing in gold will always remain popular as it is deeply rooted in the human psyche, Reuters reports.
The precious metal has had a volatile year since peaking at a record $1,030 per ounce in March, dropping below the $700 per ounce barrier before briefly tipping $900 per ounce in October.
However, Richard Raymar, of Lipper, has explained that gold will continue to attract investors as its safe-haven qualities are enshrined in the way we think about it as a commodity.
"However much gold has been hammered since breaking to new heights, it will always be deep in our psyches as the ultimate safe haven and will continue to crop up in the top tables during times of stress," he told the news provider.
Jane Sydenham, investment director at Rathbones, which manages around £11 billion worth of funds, has also explained that gold is staying at the forefront of investors' minds as nothing is certain about the future of the economy.
"In most of our portfolios, we have some sort of exposure to gold, partly because it is very unclear at the moment whether or not we will go into deflation or whether inflation will pick up again in a couple of years' time," she said.
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