Gold News

Investors strongly urged to Buy Gold

Investors have been strongly urged to Buy Gold by a leading economist who believes that the grim outlook for the US dollar presents a great opportunity.

In an interview with the Gold Report, Bud Conrad, chief economist of Casey Research, which has advised investors for 25 years and been published in newspapers such as the Boston Globe, warned over the future of the economy.

He was quoted as saying: "We're heading toward government devaluing its currency to devaluate its debt in order to survive.

"That means you need to protect yourself. You can't just have savings accounts paying no interest. You need to go and Buy Gold."

Mr Casey was speaking after presenting a study at his company's 2010 Crisis and Opportunity Summit, in which it was pointed out that the global economy is currently in a calm between the credit crisis and a future currency crisis.

"I think you'll do well by investing in gold," he added.

The Financial Times reports that demand for Gold Bullion could remain bullish even as it starts to rise in value.

That is because there has been little movement in the sale of scrap, which usually picks up when physical gold becomes expensive, boosting supply and reducing the precious metal's value.

Afshin Nabavi, head of trading at Geneva-based MKS Finance, which refines and trades gold, told the newspaper: "Sales of scrap have picked up but not by that much."

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Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.

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