Sunday, January 11, 2009

Rich turn to physical gold, shunning ‘paper’ proxies

http://www.telegraph.co.uk/finance/financetopics/financialcrisis/4177766/Merrill-Lynch-says-rich-turning-to-gold-bars-for-safety.html
Gary Dugan, the chief investment officer for the US bank, said there has been a remarkable change in sentiment. "People are genuinely worried about what the world is going to look like in 2009. It is amazing how many clients want physical gold, not ETFs," he said, referring to exchange trade funds listed in London, New York, and other bourses.

"They are so worried they want a portable asset in their house. I never thought I would be getting calls from clients saying they want a box of krugerrands," he said.

Merrill predicted that gold would soon blast through its all time-high of $1,030 an ounce, and would hit $1,150 by June.

http://www.telegraph.co.uk/finance/personalfinance/4209109/Cost-of-living-going-down.html


The cost of living has finally begun to fall, ending months of spiralling bills for families hit by rising petrol and household costs, research for the Daily Telegraph has disclosed.