Australians also join gold rush

January 15, 2009

Commodity Online
NEW DELHI: At the time of crisis, bank on gold that is the advice Australian stock brokers are giving their clients now.

So, equity investors are likely to head for gold now in Australia.

According to Joseph Palmer and Sons, gold has performed well in the current financial markets slowdown, while other investments have suffered.

The firm expects gold to stay up until the world comes out of the credit crunch and it suggested that investors consider buying physical gold rather than stocks.

Experts also said gold is a safe haven and prices are expected to rise further during 2009.

Meanwhile, gold will feature prominently in the forthcoming Chinese New Year celebrations, with gold coins viewed as a symbol of wealth and prosperity.

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