mamboni
19th January 2011, 08:00 AM
You’re insane if you don’t own gold, investors told
Not owning gold during the current financial turmoil is “a form of insanity”, according to an investment analyst at a leading City firm.
By Richard Evans 5:46PM GMT 11 Jan 2011
Robin Griffiths, a technical strategist at Cazenove Capital, told CNBC: “I think not owning gold is a form of insanity. It may even show unhealthy masochistic tendencies, which might need medical attention.”
He added that the dollar was heading for “oblivion”.
Mr Griffiths predicted that gold’s 10-year bull run would continue and even intensify. “Although it’s been a top performer for each of the last 10 years, it’s still in a linear trend,” he said. “Eventually it will go exponential and make more in the last little bit than the whole of the 10-year trend.”
He said investors should regard any short-term falls in the gold price as a buying opportunity, adding that gold was still not an “over-owned trade”.
His comments come against the background of the US Federal Reserve’s huge monetary stimulus from quantitative easing, which many believe will result in inflation and a fall in the value of the dollar.
More…
http://www.telegraph.co.uk/finance/personalfinance/investing/gold/8253166/Youre-insane-if-you-dont-own-gold-investors-told.html
Not owning gold during the current financial turmoil is “a form of insanity”, according to an investment analyst at a leading City firm.
By Richard Evans 5:46PM GMT 11 Jan 2011
Robin Griffiths, a technical strategist at Cazenove Capital, told CNBC: “I think not owning gold is a form of insanity. It may even show unhealthy masochistic tendencies, which might need medical attention.”
He added that the dollar was heading for “oblivion”.
Mr Griffiths predicted that gold’s 10-year bull run would continue and even intensify. “Although it’s been a top performer for each of the last 10 years, it’s still in a linear trend,” he said. “Eventually it will go exponential and make more in the last little bit than the whole of the 10-year trend.”
He said investors should regard any short-term falls in the gold price as a buying opportunity, adding that gold was still not an “over-owned trade”.
His comments come against the background of the US Federal Reserve’s huge monetary stimulus from quantitative easing, which many believe will result in inflation and a fall in the value of the dollar.
More…
http://www.telegraph.co.uk/finance/personalfinance/investing/gold/8253166/Youre-insane-if-you-dont-own-gold-investors-told.html