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January 24, 2009 |
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Commodity Online
NEW DELHI: Forget recession, gold is here to stay. That is what experts are saying now.
According to a recent report, outlook for gold investment is robust, despite the current economic downturn.
In an interim update to its annual gold survey, GFMS stated that gold will help to safeguard investors this year against recent fiscal decisions that could weaken the dollar.
The report predicted that fiscal and monetary commitments by both the past Bush and new Obama administrations in the US are too large to be financed by orthodox means and could further weaken the dollar.
GFMS forecast that gold is likely to benefit handsomely from erratic money markets and concerns about the security of other forms of investment.
The study also highlighted a boom last year in gold coin sales and bar hoarding, particularly in Japan, China, Thailand and Vietnam.
According to GFMS, minting rose by 40 per cent in 2008 reaching a 21-year high.
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