ZLATO – zlatá horúčka v globále rastie

Once deemed an "old fashioned asset," gold is back in vogue, according to ScotiaMocatta's director of precious metals.

"The world has apparently got gold fever again and believes that it is a sound asset," Andy Montano said in an interview.

"We expect gold prices to continue to climb to new heights," Cooper wrote in a note.

"However, we foresee a reasonably high probability of a price correction in the first quarter based on historical patterns of supply and demand along with what we believe are some short-term drivers that could subside," Cooper wrote in a report, recommending that investors snap up gold when it hits its temporary low point.

Historically, gold prices have been a harbinger of tough economic times. The metal's previous record of $875, worth at least $2,115 in inflation-adjusted terms, was set in 1980.

"It's often seen as a good hedge against weak economic conditions or inflation and also against a weakening U.S. dollar," Merrill Lynch economist Carolyn Kwan said in an interview.

"People view it as a store of value and it can keep value when you have other assets declining." There are a few ways investors can take advantage of this golden opportunity.

Zdroj: lfpress.ca

15.01.2008

"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value."   Alan Greenspan