Global awareness of 'long-term strategic benefit' of investing in gold is rising
A top employee at the World Gold Council (WGC) claimed yesterday (November 19th) that there is now widespread recognition of the benefits of making a long-term gold investment.
The precious metal has slumped slightly since it pushed past the $900 per ounce mark in early October and some industry figures have expressed concerns about the possibility of impending deflation.
However, the WGC's quarterly 'Gold Demands Trends' report showed that investment demand was booming in Q3 and George Milling-Stanley, manager of investment and market intelligence at the body, explained that the trend will continue.
He said: "There is a growing awareness around the world among investors of the long-term strategic benefit that gold brings to a properly balanced investment portfolio."
In addition, Mr. Milling-Stanley claimed that the array of enormous bailout plans being issued for banks carry considerable inflationary implications for the major global economies.
The suggestion that buying gold forms an important part of any respectable investment portfolio was echoed recently by another senior figure at the WGC, managing director of investment and research, Marcus Grubb.
"Gold's real value is not that it provided a quick speculative fix, but that it offered a sure and steady means of protecting wealth," he said.
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