Gold News

Durability of Gold Investment is championed

An industry specialist has suggested that the past decade has highlighted both the benefits of Buying Gold and the longevity of the yellow metal as an investible commodity.

Writing in City AM, Boris Schlossberg of the GFT forex platform said that while a number of financial markets around the world had struggled amid the economic crisis, Gold Prices had continued to soar.

He said: "As most equity markets around the world lost money, gold's performance is a testament to its durability as an investment idea.

"At the start of 2000, the yellow metal traded at around $300 per ounce. By the end of 2009 it rose to $1,100 - a 266% increase."

Bill O'Neill, from Merrill Lynch Wealth Management, recently told the Times that ongoing credit risk, the strength of commodities and the weakness of the US dollar could contribute to Gold Prices rising as high as $1,500 per ounce.

He told the newspaper: "Although the gold price may be volatile in the short term, the long-term trend is upwards, and investors should take advantage of any dips to increase their holding."

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