The gold price
Gold Investment is 'one of the best you will ever make' - 1 May 2009
Renowned gold expert Larry Edelman has claimed today (May 1st) that people cannot go wrong by making a Gold Investment.
Mr. Edelman has a long and successful history in the industry, becoming the largest gold arbitrage trader in the world during his time with Emanuel Capital Management, when he was trading $175 million worth of Gold Bullion per day.
With the recent announcement that China has been upping its gold reserves gradually over the past six years, he has explained that the yellow metal is far more attractive than other investments.
Writing in his latest 'Money Markets' column, he said: "While I suggest you stay out of US Treasury notes and bonds, my position on gold remains the same: it's one of the best investments you will ever make."
Mr. Edelman's comments come after Hou Huimin, vice-general secretary of the China Gold Association, claimed last week that China should in fact be buying even more gold than it has already accumulated.
"It's not a matter of a few hundred, or 1,000 tonnes. China should hold more because of its new international status, and because of the financial crisis," he told Reuters.
"The financial crisis means the US dollar value is changing fast, and it may retreat from being the international reserve currency. If that happens, whoever holds gold will be at an advantage."
Researching your first Gold Investment today? Don't pay more than you should! Make it cheap, simple & ultra-secure at BullionVault...
Mr. Edelman has a long and successful history in the industry, becoming the largest gold arbitrage trader in the world during his time with Emanuel Capital Management, when he was trading $175 million worth of Gold Bullion per day.
With the recent announcement that China has been upping its gold reserves gradually over the past six years, he has explained that the yellow metal is far more attractive than other investments.
Writing in his latest 'Money Markets' column, he said: "While I suggest you stay out of US Treasury notes and bonds, my position on gold remains the same: it's one of the best investments you will ever make."
Mr. Edelman's comments come after Hou Huimin, vice-general secretary of the China Gold Association, claimed last week that China should in fact be buying even more gold than it has already accumulated.
"It's not a matter of a few hundred, or 1,000 tonnes. China should hold more because of its new international status, and because of the financial crisis," he told Reuters.
"The financial crisis means the US dollar value is changing fast, and it may retreat from being the international reserve currency. If that happens, whoever holds gold will be at an advantage."
Researching your first Gold Investment today? Don't pay more than you should! Make it cheap, simple & ultra-secure at BullionVault...
Goldbug, 01 May '09
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