Gold Investment to rise 'on fears over inflation'
Citigroup analyst David Thurtell predicted yesterday (July 16th) interest in Buying Gold is likely to grow considerably in the coming months.
With central governments continuing to furiously print money in response to the global financial crisis, many market observers are forecasting an eventual spike in inflation.
The yellow metal has long been viewed as a valuable hedge against such a scenario and Mr. Thurtell explained in an interview with Reuters that investors may Buy Gold in significant quantities.
He told the news provider: "Gold is basically dollar-driven, but there are expectations that all this monetary stimulus is going to spark inflation concerns and therefore interest in gold.
"There is a view that if world growth is in a gradual recovery trend, that will eventually help fabrication demand."
A similar view was expressed last week by Trevor Law, a director at Solihull-based independent financial advisory firm Montpelier Group.
According to the Birmingham Post, he noted that ongoing concerns over the future of the economy are emphasising gold's appeal as a store of wealth in tough times.
"It seems that many investors are rushing to the perceived safe haven of gold during the current recession," he told the newspaper.
"Uncertainty over the state of the economy, plummeting share prices, pitiful interest rates and fears over the vulnerability of even the biggest banks have all led investors to return to the old ways of physically holding gold to protect themselves."
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