WGC: Gold investment is 'important to any portfolio'

A leading figure at the World Gold Council (WGC) has today (October 22nd) claimed that a gold investment should form a significant part of any top-class portfolio.

Investors have been rushing to buy gold in recent weeks as the economic crisis continues to bite as a means of providing a safe long-term asset as other markets crumble.

Now Marcus Grubb, managing director of investment and research at the WGC, has moved to champion gold's unique characteristics.

He said: "Gold's real value is not that it provided a quick speculative fix, but that it offered a sure and steady means of protecting wealth.

"Gold is an attractive investment that should form an important part of one's investment portfolio."

The recent bailouts of a number of major institutions and the coordinated global interest rate cuts have seen some critics question gold's appeal with deflationary pressures set to arrive.

However, Ajay Mitra, the managing director of the WGC Indian Subcontinent, has suggested that gold will certainly continue to remain popular in India as its investment qualities are highly valued.

"Indian masses have bought and sold gold since ages, solely from the standpoint of a valuable commodity and a 'store of value'," he said.

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