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Friday, 15th May 2009 (4698 views)

Gold is an ideal choice for those looking to make a long-term investment, it has been suggested.

Speaking to Reuters, president of the RPG Foundation DH Pai Panandiker stated that, while over-supply may limit its attractiveness in the short term, the precious metal will become more desirable in the years to come.

"Production of gold has been declining with the maturing of gold mines," he told the news source.

This, coupled with the fact that there has been a decrease in the amount of new gold being discovered globally, means supplies will "shrink" and the metal will become "a good investment", he was quoted as saying.

Business Wealth recently argued that the investment prospects for gold have not altered despite the current financial crisis, with many banks still recommending purchasing the precious metal.

Financial institution Schroders, the news source said, believes that gold will still benefit, even if the present trading environment brings inflation or deflation.

 

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