Understanding Gold

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Published : June 14th, 2015
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Category : Market Analysis

RESEARCH BLOG

A wire story that caught our eye this morning arrived under the headline "The Three Books You Must Read if You Want to Argue About Gold". In it, Bloomberg editor Tom Keene recommends a trio of publications worthy of examination. (A well-read version of his second endorsement, The Power of Gold by Peter L. Bernstein, is a permanent fixture on this writer's desk!)

 

The point is that before jumping into precious metal, it is essential to understand as much as possible about the history of gold and its contemporary role. And on this score, Anthony Hart has been providing extremely valuable insights recently on our Research blog.

After examining 12 reasons that justify the ownership of gold, this week he looked at 12 counter-arguments, making the point that readily accepting the positives and ignoring the negatives "is potentially a one way trip to the poor house".

Anthony discusses contentious issues about gold under headings such as "No Yield", "Ownership Costs", "Government Confiscation" and "Barbarous Relic", before weighing the pros and cons of ownership against each other and concluding that it's unwise to put all your eggs in one basket.

With significant understanding of gold, Anthony offers his personal perspective to end the series: "The way I personally view ownership of gold is as a pure savings and wealth preservation vehicle, with a little insurance thrown in,as opposed to as an 'investment' (investment in this case being an allocation of capital which is put at risk in the attempt to significantly grow overall wealth)."

 

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