Why I’m still backing gold

Merryn Somerset Webb explains why she – and most of the sensible people she knows, is still holding gold.

I'm still holding gold. Bill Bonner is still holding gold. So are Tim Price,John Stepek andmost of the sensible people we know.

But does it still make sense? A recent convert to the idea is Financial Times star columnist Gillian Tett. She recently spoke to former Federal Reserve chairman Alan Greenspan. He carefully avoided talking about gold while he was running the global monetary system but these days he is a little more open about his views. There is a reason, he says, why investors and central banks "put money into an asset that has no rate of return". It is that gold is "by all evidence a premier currency. No fiat currency, including the dollar, can match it."

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