Gold News

Investors told to Buy Gold over governments' 'malfeasance'

A senior figure at Smith Consultant Group has today (May 12th) urged investors to Buy Gold as a result of the "fiscal and monetary malfeasance" of governments around the world.

Writing in his Mogambo Guru newsletter, Richard Daughty, chief financial officer of the financial services firm, turned his attentions to a recent work by Jeff Clark of

Entitled 'Gold Isn't Going to $2,000 Per Ounce', the article predicts that Gold Prices could go as high as $6,214 per ounce if the yellow metal replicates its "percentage rise in the last bull market".

Commenting on the piece, Mr. Daughty wrote on the Asia Times website: "I have fulfilled my mission to give you one more set of reasons to buy gold as protection against the sheer tonnage of stupidity of the government and the Federal Reserve."

A positive view of the future of gold - albeit not quite as bullish - also arrived today from James Steel, chief commodities analyst at HSBC, who predicted an impending period of inflation.

"The news of China's rapid expansion of money supply and easier credit may have the effect of increasing future inflationary expectations and thereby supporting gold," he told Reuters.

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