Uncertain global economy makes Gold Investment 'attractive'
A leading industry analyst has suggested that Gold Investment will remain an appealing option as long as uncertainty surrounds the global economy.
Ted Scott, director of UK strategy at F&C Investment, said that Investing in Gold should continue to be an attractive prospect as long as conventional growth is not sustained with a rally in confidence of the US dollar, according to the Daily Telegraph.
He told the news provider: "The only way that gold can underperform is if the US and other developed economies recover in a conventional way by cutting spending and raising taxes while at the same time embarking on a period of stable economic growth.
"With the likelihood that the world will take several more years to heal the wounds inflicted by the credit crunch, an alternative asset like gold will remain attractive in such an uncertain environment."
It was suggested last week that the recent falls in the price of gold offered a great opportunity to yellow metal bargain-hunters.
Bernard Sin, head of currency and metals trading at the Geneva-based bullion dealer MKS Finance, told Bloomberg: "We might see bargain-hunters coming into the market.
"We could see some people very excited to get back into gold. If you're seeking a safe haven, people will buy gold on dips."
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