The head of a major Canadian-listed mining, development and exploration company has claimed today (January 7th) that investing in gold is a sound strategy in the medium term.
Lydian International has major gold producer Newmont Mining as one of its key shareholders and is currently operating a gold project in Armenia and a base metals project in Kosovo.
Now president and CEO Tim Coughlin has expressed his belief in an interview with proactiveinvestors.co.uk that gold prices should climb in the coming few months.
He told the website: "Any environment in which there is an investment escape to security has got to be good for gold.
"I know it is volatile, like everything at the moment, as we hopefully bounce along the bottom of this trough. But I think gold is looking good over the medium term."
Mr. Coughlin's remarks about gold's qualities as a security investment were echoed recently by Frances Hudson from Standard Life Investments, which manages the Standard & Poor's 'A'-rated $1.1-billion Global Absolute Return Strategies Fund.
"Gold is the ultimate security blanket," she said. "If you are expecting a raft of debt issuance then you are probably expecting a fall in their value."
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