Gold Investment is a 'no-brainer'
Buying Gold has today (August 17th) been described as a "no-brainer" by a senior investment figure in the Middle East, Reuters reports.
The yellow metal has found great favor with investors since the start of the global financial crisis as it offers a safe haven and buffer against a tough economic climate.
Now Ahmed bin Sulayem, executive chairman of the Dubai Multi Commodity Center - a BB-rated strategic initiative of the Dubai government - has explained that it is easy to see why gold's popularity is growing.
"People's confidence in the stock market went down with the financial crisis. Investing in Gold right now is a no-brainer," he told the news provider.
Meanwhile, Steve Leuthold, who manages the Leuthold Core Investment Fund - which has outperformed 95 percent of its rivals in the past five years - has also sounded a positive note for gold.
He explained last week in an interview with Bloomberg that the dollar, which moves in the opposite direction to gold, could struggle considerably in the coming months.
"We have begun to build a defensive position in gold," he told the news provider.
"You could see a very significant decline in the dollar that might serve to get our politicians back on the right track to fiscal responsibility."
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