Gold is resuming its monetary role as the anti-currency; now is the time to
invest
- Gold bull market will continue in 2010 says Bullion Management Group -
Barisheff made clear an important fact for investors: "The current pull-back from the recent highs of
With the financial industry focused on gold, the question is "How high could the price go?" "Many have noticed that fund managers are starting to buy gold as long-term insurance. By one estimate, if the world's pension funds and hedge funds moved just 5% of their assets into gold, it would trade at
Barisheff went into detail about the factors driving the gold price, and why it will stay elevated for the foreseeable future.
"For the first time in two decades, central banks are net buyers rather than net sellers of gold," stated Barisheff during his speech to the Empire Club in
India's central bank purchase of over 200 tonnes of IMF gold, as well as significant buying activity in
"Although the central banks immediately rejected these rumours, the market treated their denials as a clear admission of guilt and gold broke through year-long resistance at
Barisheff also discussed the growing imbalance between paper proxies, gold derivatives and physical bullion. In the future, the price of paper gold and the price of physical gold could divide.
"This isn't a typical bull market. Until governments around the world stop creating massive amounts of new money, the price of gold will continue to rise," says Barisheff.
Toronto-based Bullion Management Group Inc. is one of the world's fastest-growing precious metals bullion investment companies. Since 2002 BMG, through its subsidiary, Bullion Management Services Inc., has managed the CDN$290 million-plus BMG BullionFund, the world's first open-end mutual fund trust with a fixed investment policy of purchasing equal dollar amounts of uncompromised gold, silver and platinum precious metals bullion. In
BMG BullionBars provide the utmost in privacy and protection in order to meet the most rigorous standards of wealthy clients who demand an unbroken continuance of discreet generational wealth. BMG's high level of commitment to our clients' privacy and security forms the core of our approach to business. For more information on both products visit: www.bmgbullion.com.
For further information: For further information: For a copy of Barisheff's speech at the empire club or to schedule an interview, please contact: Canadian PR Contact, Razor Voice Inc., John Lindo, (647) 893-1741, [email protected]; U.S. PR Contact, Blue Chip Public Relations Inc., Bill Bongiorno, (914) 533-7065 - office, (914) 882-5594 - cell, [email protected]; BMG Contact, Bullion Management Group Inc., Robert Para, VP Marketing, (905) 474-1001 x16, [email protected]
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