Gold investment ‘vital’ for businesses
Investing in gold is a move businesses should consider in the present economic climate, it has been suggested.
Writing for iStockAnalyst, Peter Blake argued that holding an investment portfolio that does not contain gold is now "embarrassing" for companies.
He said that gold has numerous investment benefits - such as being a hedge against inflation and having a high liquidity value - and is also the main supporter of many currencies.
"Gold is known to be the principal currency of the world and has an indisputable value, unlike the paper currencies," he stated.
Mr Blake advised firms considering investing in gold to opt for bars and coins, but noted that all forms of the precious metal are a "safe and prudent option".
Equity analyst Tim Morris told the Sydney Morning Herald earlier this week that strong demand for gold is benefiting companies involved in producing the precious metal, with some doubling the amount of ore they process.
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