Gold News

Gold Investment 'no longer the preserve of the wealthy'

A senior figure at stockbroker Redmayne-Bentley has today (June 22nd) outlined a number of reasons to secure a Gold Investment.

Emma Plumpton, manager of the Grampian branch of the UK firm, noted that central governments are furiously printing money in order to "basically inflate their way out of debt".

With the yellow metal traditionally moving in the opposite direction to the dollar and favored as a hedge against inflation, Ms. Plumpton believes now is a good time to Buy Gold.

"Investing in gold is no longer the preserve of the wealthy," she told the Press and Journal.

"The sheer size of the expected government deficits in the UK and America resulting from the stimulus measures look unsustainable."

She added: "The investment case for the precious metal is also supported by the fact that global gold-mine production peaked in 2001 and has declined an average of eight percent year-on-year since."

Those comments were backed up last week by Julian Phillips, a respected gold columnist and regular contributor to the weekly Gold Forecaster newsletter.

He also focused on the fiscal deficit being accumulated across the globe in response to the financial crisis, claiming that it should benefit gold investment for some time to come.

"We are of the belief that gold will continue on its upward path until there is substantial and convincing evidence that we have a monetary system that can withstand the potential systemic failures on the horizon now," he wrote in the newsletter.

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Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.

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