Gold News

Gold investment is a 'shining beacon of safety'

Independent investor and commentator Christopher G. Galakoutis has expressed his faith in gold as a long-term investment, despite the recent strengthening of the US dollar.

Mr. Galakoutis, who runs the macroeconomic commentary website, has expressed his surprise that the paper currency continues to grow, despite reports of dwindling gold supplies and delivery delays.

He has dismissed the notion of investors moving towards the dollar, and has instead explained that buying gold now will prove to be the most prudent strategy in the long run.

He said: "Investors are choosing to buy the dollar and dollar denominated investments despite the fact negative real interest rates prevail in the US.

"That is akin to fleeing one burning building into the 'safety' of the inferno next door, completely ignoring the shining beacon of light and safety that is gold."

Mr. Galakoutis also alludes to the fact that investing in gold has often been criticised due to its failure to pay interest, but he explains that such a scenario is always preferable to negative interest rates.

He added: "When the markets finally come to their senses, those brave enough to have stuck it through should be richly rewarded."

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