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Tuesday, 23rd June 2009 (759 views)

Gold's popularity is remaining strong due to the current weaknesses in global economies, it has been suggested.

According to the American Chronicle, buyers in the US are still opting to purchase the precious metal due to fears over hyperinflation, which would see the value of the dollar fall.

"If somebody offered you a $100 (£61) in paper [money] or $100 in gold, you would take the gold," expert Jerry Landry told the news source.

He noted that it is a "relatively hard" metal to acquire due to its finite quantities, meaning that "it will always be accepted in every country".

Mr Landry added that "everybody" should keep hold of a "little" of the precious metal.

His comments follow those of Richard Beales, who recently told the UK's Daily Telegraph newspaper that investors are opting to purchase gold as a hedge against the risk of both inflation and deflation.

 

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