01 May '11, 9pm

Gold begins to regain its lustre - TODAYonline - Gold begins to regain its lustreTODAYonlineSINGAPORE - Gold, includ...

SINGAPORE - Gold, including the physical precious metal itself, has made a comeback as a safe haven investment with concerns of rising inflation diluting the relative value of assets. The price of the precious metal gained more than 30 per cent in the last year and the benchmark spot rate crossed the US$1,500 per ounce mark last month. The weakening greenback, the United States Federal Reserve easing monetary policy and mounting sovereign debt in Europe are prompting more investors to buy gold as a store of value and protection. What glittered in the old days was the storage of gold bars under lock and key. Mr Jean-Francois Pages, CEO of Swiss Precious Metals, said this form of investment still remains sound, even today. "This gold will be, for them, the ultimate currency, the only metal that is accepted internationally as a currency actually because when paper currency do...

Full article: http://www.todayonline.com/Business/EDC110502-0000311/Gol...

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