Gold Remains “Best Insurance For A Crisis” – Ficenec
By:GoldCore
GoldSeek.com
Monday, 16 November 2015
– “Future is uncertain and gold is the most effective insurance against that”
– As fears grow about outlook for global economy – long term attraction of gold remains
– As “central banks race to devalue currency,” private individuals are buying record amounts of gold
– “Gold is simply the best insurance against inflation, or deflation”
– Editor’s Note: The tragic events in Paris, terrorism and war throughout the world, show geopolitical risk remains high. These risks will likely impact economies and financial markets and will see continuing safe haven demand for gold
The price of gold might be falling, but private individuals are buying record amounts of the precious metal, and as fears grow about the outlook for the global economy the long term attraction of gold remains according to John Ficenec in The Telegraph today.
The strength of the US dollar and the threat from rising interest rates have made it a tough year for gold. The yellow metal was down 9 percent last week to reach a five-year low at $1,083, and that marks a 43 percent fall from the all-time high of $1,900 reached in 2011.
However, the fundamentals, characteristics and attractions of gold are undiminished because we remain in times of extreme intervention by governments around the world and for thousands of years gold has been the best insurance during times of uncertainty.
Demand remains strong
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