A senior figure at Merrill Lynch Global Wealth Management has today (March 2nd) expressed his belief that Gold Investment should form part of any portfolio, My Small Business reports.
Investors have been Buying Gold in their droves in the past few months as concerns over the state of financial institutions and the level of money-printing by central governments have grown.
Now Peter Opie, first vice-president of the firm - an owner of positions in companies such as BlackRock, which manages around $1 trillion in assets - has explained that a maximum of one-twentieth of a portfolio should comprise gold.
He told the news provider: "We think that gold should be between two and five per cent of any portfolio. It's a hedge against everything - deflation, inflation, doom and weakening currency."
Mr. Opie's views were strongly echoed last week by Mark Robinson, a gold bullion analyst in Dubai, who described gold as a "very solid asset".
"Buying physical gold does have advantages compared with other investments," he told Commodity Online.
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