Gold News

Gold Investment remains wise, says leading bullion dealer

A senior figure at Australia's largest online Gold Bullion retailer has today (July 27th) championed the benefits of investing in the precious metal.

Gold has become more prominent in the psyche of the average investor since the start of the global financial crisis, mainly due to its ability to provide a safe haven and store of wealth.

Now George Vo, precious metals sales manager at Gold De Royale, has explained that Buying Gold is prudent as it will always "retain its relative value" in any economic environment.

"Even in economically-challenging times like these, gold remains a wise investment," he said.

"People who began their gold collections decades ago simply for their own enjoyment have inadvertently created a kind of financial security that other investments just cannot provide for them."

Meanwhile, Dennis Gartman, a renowned independent trader, hedger and forecaster, deviated from his previous stance on gold last week and urged investors to buy the yellow metal.

He traditionally viewed gold as too expensive in comparison with other commodities but noted in an edition of his Gartman Letter that now could be a good time to devote some money to it.

"Regarding gold, it has held, and as the US dollar weakens, gold is breaking out to the upside," he wrote, according to Reuters.

"We found ourselves becoming quietly supportive of gold from a technical and from a dollar-devaluation perspective."

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