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Wednesday, 29th July 2009 (4204 views)

Gold is providing a safe haven for many investors in the current economic climate - and according to one industry expert, it will also be a "wise investment" because of its ability to retain value.

George Vo, precious metals sales manager at Australia's biggest gold bullion retailer Gold De Royale, said that while collecting gold can be a fascinating hobby in and of itself, it also has the potential to be financially rewarding.

Since the start of the global financial crisis, many gold collectors have benefited from holding the yellow metal, he added.

"People who began their gold collections decades ago simply for their own enjoyment have inadvertently created a kind of financial security that other investments just cannot provide," Mr Vo commented.

Furthermore, the value of gold is likely to remain stable as, unlike bank notes, it cannot be printed to "pump up the economy".

For those looking to start a gold collection, Mr Vo recommended starting small with a few gold bar purchases. Investors should also only buy their gold from reputable precious metal refiners, such as those accredited by the London Bullion Market Association.

 

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