Gold News

Gold 'competing with dollar' as safe-haven asset

A commodity analyst from Heritage West Futures claimed today (February 27th) that gold is currently competing with the dollar as a safe-haven asset, the Telegraph reports.

Gold Prices generally tend to move in the opposite direction to the greenback, but both have strengthened notably in recent months as people look for alternative investments.

Now Ralph Preston from the San Diego-based firm has explained that the relationship appears to have broken down, albeit for now, as investors see considerable value in both.

He told the newspaper: "My clients are looking to gold as a safe haven. Gold is turning into a currency and competing with the dollar. It's the battle of the safe havens."

Natalie Dempster, head of investment at the World Gold Council, has added weight to that theory by suggesting that investors are Buying Gold as they cannot see a viable alternative.

"There's been a realisation that things are not getting better in the corporate world, and therefore investors are going into gold partly because they don't know where else to go," she told Citywire.

To Buy Gold today, avoiding wide spreads and storage costs - but still owning your physical Gold Bullion Investment outright with full legal title - be sure to visit BullionVault and claim a free gram of gold now...


See all articles by Gold Bug here.

Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.

Follow Us

Facebook Youtube Twitter LinkedIn



Market Fundamentals