Gold News

Gold Investment is 'security against financial turmoil'

A leading markets analyst has championed Gold Investment as a safe-haven against economic volatility.

Wallace Ng, Hong Kong-based executive director of commodity derivatives at Fortis Nederland, the Dutch government-owned bank, said that the people who had portfolios containing investments in the precious metal should refrain from selling the commodity in times of financial uncertainty, according to Bloomberg.

He told the news provider: "[Gold is a] security against any financial turmoil in any country.

"People are worried about national debt of the European countries, that’s why they sell euro and sell sterling. But if they are worried about the situation, they shouldn’t sell gold."

Meanwhile, it has been reported by Reuters that Gold Prices have hit record highs in sterling and euro terms as a direct result of market volatility. The precious metal reached 832.83 euros an ounce and £754. 46 an ounce before falling slightly lower in both cases.

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