Current Gold Prices are a 'buyer's bargain'
The publisher of two well-known newsletters claimed yesterday (July 7th) that the current Gold Price represents an unmissable buying opportunity.
Writing on marketoracle.co.uk, Ned W Schmidt, of The Value View Gold Report and Trading Thoughts fame, explains that the US Federal Reserve's monetization of the country's debt is positive for gold.
Furthermore, he envisages a time when Gold Prices are far higher than $1,000 per ounce and investors will look back at the current level of about $930 per ounce and view it as cheap.
He wrote on the website: "Investors are being given a rare opportunity this summer. Weak gold prices, brought on by Federal Reserve policy, are providing what over time will be seen as [a] buyer's bargain.
"Investors should be using these prices to build a portfolio of gold. Some day, buying gold below $1,000 will be seen as buying low for some and a moment of regret for those that do not take action."
Those comments come after VM Group analyst Matthew Turner claimed last week that fears over possible inflation are leading investors to consider buying gold.
He explained in an interview with Reuters that, because they are unsure of the timespan of this development, they are playing it safe by taking up long-term positions in the yellow metal.
"The focus is turning to fears of inflation rather than fears of deeper recession," he told the news provider.
"But there are no immediate signs of inflation anywhere for now, so investors are looking to the long term, and of course when inflation does start to go up, the price of gold will be rising well ahead of it."
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