Now is 'a good time' for investing in gold
Top management consultant Paul Airasian has explained this week that the current economic downturn is a perfect opportunity to establish a gold investment, stamfordadvocate.com reports.
Gold prices have become increasingly volatile since hitting highs of over $1,030 per oz in March and have plummeted by 17 per cent in the past six months alone.
However, Mr. Airasian, who is based in Belmont, Massachussets and founded goldinstitute.net, has claimed that all the fundamentals for buying gold are in place.
He told the website: "Gold has been around [as a currency] for 4,000 years. It is a good time to invest in it.
"Gold responds to debasement of the currency, economic uncertainty and inflation and all three are going on right now."
Mr. Airasian's comments follow claims made recently by US monetary theorist Franklin Sanders, who suggested that the recent rally in the dollar is likely to be short-term.
"Obviously confirmation is needed, but it now appears that silver and gold prices have made an important bottom," he said.
"Premiums are still crazy high, deliveries are three weeks to 16 weeks, so silver and gold markets remain under fierce buying pressure."
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