Gold Remains the Best Insurance against Economic Uncertainty
This week, in a commentary published by The Telegraph, John Ficenec defended gold’s history as the ultimate safe haven asset, arguing that the fundamentals for the yellow metal remain sound even if the price correction has spooked speculative investors. Long-term physical gold bulls continue to hoard the yellow metal to protect themselves from the inflationary money-printing of the world’s central banks.
The market price of gold may have fallen during the year, but hoarding of the precious metal by central banks and private individuals is approaching record levels.
In trading terms, it has been a tough year for the yellow metal. The price of gold has fallen 28pc during the past 12 months. However, the fundamentals, characteristics and attractions of gold are undiminished because we remain in times of extreme intervention by governments around the world, the outcome of which is completely unknown.”
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