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Monday, 22nd June 2009 (1031 views)

Gold has been named as the finest metal in the world by one expert.

Owen Hegarty, G-Resources Group's chief executive, was quoted by Channel NewsAsia as saying it benefits from being a diverse commodity which is useful to everybody.

"It's the absolute perfect metal, being both a commodity and a greater store of value for an individual, a great store of value for a company [and] a great store of value for a country," he remarked.

And it is looking particularly good as an investment vehicle at present due to the recession.

Mr Hegarty explained that the threat of inflation, uncertainty in the global economy and high demand are all helping to create a favourable environment for gold.

In addition, his company believes a weakening US dollar and gold's ability to act as a hedge against deflation as well as inflation are making it appear increasingly attractive.

Shelter Offshore recently suggested that gold is better than other currencies, offering a much more stable investment market.

 

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