Gold News

Gold Investment prudent as the metal will 'remain resilient'

A prominent analyst has suggested today (September 25th) that making a Gold Investment is a sound long-term strategy, Reuters reports.

Investors are currently looking at alternative outlets for their money as the prospect of economic recovery reduces the appeal of paper currencies such as the US dollar.

Now Dan Smith, an analyst at Standard Chartered - a British bank with a network of over 1,700 branches - has explained that Investing in Gold is already finding favor and will continue to remain strong.

"For most of the precious metals investor inflows have been very strong," he told the news provider.

"It suggests to us gold is going to remain resilient. Our advice is you should be long in gold."

One of the main reasons that investors choose to move their money into gold is its ability to provide a hedge against inflation.

With consumer prices set to rise when economies emerge from the financial crisis, Steve Chun, a trader from Hyundai Futures in Seoul, has explained that the yellow metal is proving popular.

"Investor demand is very strong as an improvement in the global economy raises the prospect of inflation," he said in an interview with Bloomberg.

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