Gold News

Citi analyst: Gold Investment is 'very, very attractive'

Citi analyst David Thurtell has claimed today (February 24th) that Investing in Gold is proving to be an "attractive" strategy at present, Reuters reports.

Investors traditionally Buy Gold in times of economic crisis and Reuters data has shown that its ratio against the Standard & Poor's 500 index hit 1.3 last week, its highest level since 1990.

With that in mind, Mr. Thurtell, from the major US financial institution, has explained that making a gold investment at this stage is being viewed as a sound long-term approach.

He told the news provider: "People are saying equities are still too risky, bonds are shaky - (gold) is just very, very attractive at the moment.

"It has always had a safe-haven bid and interest rates are very low, so the opportunity cost of investing in gold is low."

That view was supported by Robert MacIntosh, chief economist at Eaton Vance, who explained that as concerns over the state of the economy persist, investors are increasingly putting their money into gold.

"There is a little bit of panic out there," he told Reuters. "Equities are setting new lows and gold is the place to run to."

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