Gold investment is 'best tool for present situation'

The author of a book entitled 'Gold: the Once and Future Money' has suggested today (September 5th) that despite gold experiencing a tough couple of months, it is still a viable long-term investment strategy.

Nathan Lewis has assessed the current state of the financial markets by relating to a 1935 work called 'The Battle for Investment Survival' by a renowned stockbroker called Gerald Loeb.

Mr. Lewis points out that the dollar - which shares an inverse relation with gold prices - has been largely on the slide for seven years at that it is likely to continue.

He draws attention to the following extract from Mr. Loeb's book: "In the history of the world we find the record of savings really saved through buying gold, hoarding precious stones, and other forms of 'hard wealth' privately secreted.

"In the future history of America most of us will, in my opinion, learn this lesson too late."

The suggestion that gold is a risky commodity is subsequently dismissed by Mr. Lewis, who claims that: "For the experienced speculator, these hard assets are merely tools in the 'Battle for Investment Survival' - perhaps the best tools for the present situation."

The view that the recent rally in the dollar will be short-lived has also been echoed recently by AmeriGold president Greg McCoach, who explained that the Fed is "propping up the dollar in preparation for the financial tsunami that's about to strike".

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