A senior figure at the World Gold Council (WGC) has suggested that now is the right time to be investing in gold.
Many investors have been unsure about the value of betting on the yellow metal as it has not performed as well as expected amidst the financial meltdown currently gripping the global economy.
However, now K. Shivaram, vice-president of the Indian subcontinent arm of the WGC, has explained that investors can still expect to see substantial gains in the long run by buying gold.
He said: "Many investors lost heavily on the equities and it also seems to be a threat in the real estate market. Now it is high time for people to invest in gold, which is the best return on investment option."
Although gold rose above $900 per ounce in the first two weeks of October, it has since plunged to below $700 per ounce and is now fluctuating around the $730 per ounce mark.
However, management consultant Paul Airasian, who founded goldinstitute.net, believes that the true effects of the global liquidity crisis will ultimately push gold higher when they fully come into play.
"Gold responds to debasement of the currency, economic uncertainty and inflation and all three are going on right now," he said.
