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'No other asset' has held its value like gold

A senior figure at American Precious Metals Advisors claimed on Thursday (December 4th) that gold has proved its resilience and investment qualities in recent months, Seeking Alpha reports.

Many commodities have taken a pounding this year, with platinum, for instance, falling from a January high of over $2,200 per ounce to trade below $800 per ounce at present.

However, Jeffrey Nichols, managing director at the firm, has explained that despite gold prices sliding from their record highs of over $1,000 per ounce in March, they have still outperformed other precious metals.

Speaking at the China Gold and Precious Metals Summit in Shanghai, the website quotes him as commenting: "In spite of the lack of direction and day-to-day price volatility in the gold market this year, at least we can say that no other asset class has held its value quite so well."

Mr. Nichols' comments were strongly corroborated recently by Carlos Sanchez, a New York-based analyst at commodities research and asset management firm CPM Group.

"The sentiment is still there that actually gold is a solid investment, and has more of a price appreciation potential than other investments," he said.

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