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Wednesday, 14th January 2009 (1508 views)

Investors should purchase gold in order to weather the current economic crisis, an Australian stockbroker has claimed.

According to Allan Furlong, manager of private client services at Joseph Palmer and Sons, gold has performed well in the current financial markets slowdown, while other investments have suffered.

Speaking to the Melbourne Herald Sun, Sydney-based stockbroker Mr Furlong stated: "I expect gold to stay up until we come out of this credit crunch," and suggested that investors consider buying physical gold rather than stocks.

In the same article, American finance expert Peter Schiff said that he saw gold as a "safe haven", adding that he expects prices to rise further during 2009.

Meanwhile, gold will feature prominently in the forthcoming Chinese New Year celebrations, with gold coins viewed as a symbol of wealth and prosperity.

 

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