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Friday, 12th June 2009 (931 views)

Gold remains a safe haven as the US dollar and other currencies look to be unstable in the current economic climate, according to an expert.

John Embry, chief investment strategist at Sprott Asset Management, told Canada's Financial Post that the precious metal represents a good option for investors.

He explained that the printing of money by central banks will inevitably lead to inflation and now is the time to invest in gold, because demand is set to increase.

"It's not gold that has changed, it's the value of paper money," Mr Embry was quoted as saying.

He suggested that the impending period of inflation is expected to be like "nothing we've ever seen before".

Australian company Gold de Royale recently recommended investing in the precious metal "now, rather than later", as it is seen as a traditional hedge against inflation and demand is likely to rise in the near future.

 

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