A prominent fund manager claimed yesterday (November 16th) that the effects of the global economic crisis are still encouraging investors to Buy Gold, CNN Money reports.
Joe Foster, portfolio chief for the Van Eck Global International Investors Gold Fund, explained that the massive fiscal output in response to the situation is eroding faith in paper currencies.
With gold renowned for the inverse relationship it shares with the chief among them - the US dollar - Mr. Foster explained that the investment appeal of the yellow metal is soaring.
"Investors are becoming increasingly uncomfortable with Fed policies and all the liquidity sloshing around in the global economy," he told the news provider.
"They're looking to hedge against all potential inflation, hedge against potential asset bubbles and hedge against the weak dollar."
A similar argument was put forward last week by Suki Cooper, a precious metals strategist at Barclays Capital, which is one of the world's leading investment banks.
In an interview with the New York Times, she explained that Gold Prices are benefiting from the changing demographic of people who are interested in buying the metal.
She told the news provider: "It's not that gold has changed, but gold buyers have changed.
"It's a structural shift we're seeing on the investing side, from Asian central banks right down to individual investors buying ingots and coins."
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