Gold Investment Sees "Transformational Event"

Gold Investment has undergone "a transformational global event" according to one long-time gold analyst and advocate, writing in the Financial Times.

"Gold has reverted to its historical role as the global currency of the last resort," says Merryn Somerset-Webb, editor-in-chief of MoneyWeek – the UK's best-selling personal finance magazine.

Contrasting today's case-for-gold with the industrial growth and jewelry-led arguments she put forth a decade ago, "The risk of hyperinflation is a transformational event for gold – it being the only global currency that can't be printed on the whim of a central bank."

Somerset-Webb's take on Western demand comes as Australia's Perth Mint said it's taking on extra staff to cope with the current surge in physical gold buying.

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