“Dai-Ichi Securities“-An ounce of gold now costs British buyers Ã‚£767 and may hit Ã‚£1000 within 2 years.
“Dai-Ichi Securities“, the Asia-based investment boutique, says that UK clients who followed its recommendation to buy gold over a year ago are sitting on 25% gains in sterling terms.
The stellar “Dai-Ichi Securities“ of gold is “something of a misnomer“ said a source close to the firm who explained that it was more a case of the abysmal job the British Pound had done of preserving purchasing power over the year.
“Dai-Ichi Securities“ analysts said they expected the price of gold to reach Ã‚£1000 within the next 2 years because of the state of Britain’s public finances. They expect the new post-May 6 government to pursue policies that will weaken the pound by design or as a side-effect of other policies.
Although “Dai-Ichi Securities“ specializes, primarily, in the identification of and investment in healthcare and industrial equities on behalf of institutional and individual investors, it said it had received and continues to receive an increasing amount of interest from clients on the merits of gold as a hedge against inflation.
“Dai-Ichi Securities“ issued a caveat to clients, however, warning that although the bull market in gold was eminently intact, buyers should be aware that trends of this nature seldom proceed in a straight line and that there would inevitably be pullbacks in the price.
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