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Gold save haven for spare cash
19 March 2008
Punch drunk retail investors left wondering where to park their spare cash given the deteriorating outlook for property and shares should consider gold as a save haven, according to a senior investment analyst.
Even though the price of gold has broken through the $1,000 per ounce mark, up 23 per cent so far in 2008, there might still be some puff left in the precious metal's bull run if economic indicators are anything to go by, the investment analyst said.
Alex James, a senior analyst with Hargreaves Lansdown, said that the conditions were ripe for gold to continue to stellar performance.
"I think potentially there is still a fair bit of growth to go, bearing in mind that the reason people buy gold is really to hedge against inflation or hedge against the falling dollar or the falling stock markets, and all three of those things are going on right now," he said.
Mr James also pointed out that in real comparative terms adjusted for inflation, the price of gold peaked at $2,000 per ounce, meaning there might be a way to go for the price of gold.
Gold has always fared well in times of economic crisis when investors seek to hedge against falling currencies and the threat of inflation diminishing the value of their savings. 
