Gold News

Gold 'the best long-term insurance'

Investors should buy and retain gold bullion as a reliable store of assets in the face of coming economic uncertainty.

This is according to Merryn Somerset Webb, editor of Money Week, who said that she would be keeping her portfolio of gold in case of recession in the coming months.

Ms Webb told the Financial Times that the US could face inflationary recession or deflatory recession, but that she feels it is unlikely that economic growth will be stable.

"There is a perfectly reasonable fundamental case to be made for holding gold: the future is very uncertain and not in a good way. In uncertain environments, what we all need most is insurance. And gold is the best financial insurance you can get over the long term," she commented.

Earlier this week, it was reported by South Africa's Chamber of Mines that gold output had fallen during the first quarter of 2008. This could increase demand for buying gold.

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