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Buy Gold While Supplies Last, By Swiftsure Securities Research Group (ssrg)
Buy gold now while supplies last! Gold is one of the coinage metals and has served as a symbol of wealth and a store of value throughout history.
Rico Mendez, Senior Trading Adviser for Swiftsure Securities Ltd. Canada says “a long time gold bull sees no reason for this trend to end.” Further, “there are many compelling factors both from a supply side and then from the demand side that looks like gold will trade higher."
Mendez' reasons to bullish on gold:
-- Massive federal deficits and low interest rates in the United States and elsewhere will raise inflation risks and keep downward pressure on currencies.
-- Rising incomes in Asia, where affinity for gold runs deep, will have a sizable positive impact on demand; China is now the largest producer of gold in the world but that won't drive down prices because the government is "using it as a reserve currency for themselves."
-- Peak Gold? Gold production from mines is not adequate to meet demand. Production is dropping around the world. Holmes notes worldwide production ell 10% in 2008 and is especially dramatic in South Africa - the world's largest producer.
Mendez, however, does have a few words of caution for those looking to get rich on gold. He only recommends a 10% allocation in gold that would be divided evenly between bullion and stocks.
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