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Monday, 11th May 2009 (1268 views)

Female investors in Abu Dhabi have been advised to buy gold as a safe haven investment during the current global economic downturn.

According to Huda Abdul Rahman Al Matroushi, an executive board member of the Abu Dhabi Business Women Council, now is a good time to purchase and invest in gold as stock markets remain uncertain, Emirates Business 24/7 reported.

Speaking to the news source during the Empowering Women in Finance conference, Ms Al Matroushi claimed that many women from the emirate had moved investments from the stock market into gold, which she described as "the safest investment".

Meanwhile, commodity analyst Adrian Douglas has stated that JPMorgan Chase and Goldman Sachs have been buying large quantities of gold call options recently, according to Numismaster.

Discussing the Comex June 2009 gold option contracts, Mr Douglas said he had received confidential information that the financial institutions had been investing in the precious metal.

 

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