NEW YORK (Commodity Online): It is perfect time to buy gold coins to take advantage of unusually low gold prices, said Wholesale Gold Group (WSG), an US based gold and silver investment firm, in a report.
According to the report, gold prices are currently undervalued and may double or triple in the years to come. This is due to the economic crisis unfolding in the EuroZone, which is forcing governments to print money in unprecedented amounts.
Wholesale Gold Group founder and CEO Michael MacDonald notes that “Gold has a number of advantages over other investments, including securities and bonds. Many people know that the price of gold, palladium, copper and silver have crept up over the last 10-years. However, many folks don’t understand the drivers of this price increase.”
He continued that, “We wanted to release information to the public to help them understand why gold prices have increased and why we advise people to buy silver coins. Once people understand the underlying factors that contribute to gold prices they can see whether or not the future environment will be friendly to precious metal investors.”
According to MacDonald, “Gold prices are set to climb over the next few months. Of course, there will be peaks and valleys like any investment, but we feel like the price of gold is severely undervalued. Not to mention the fact that gold has a number of tax advantages over other investments.”
MacDonald adds that the biggest factor to push gold prices higher will be increased demand from emerging economies, particularly China and India:
“China and India are importing as much gold as they can get their hands on. Unlike paper currency or even oil, the amount of gold on the planet is rapidly diminishing. Applying simple supply and demand economics to the situation tells you that now is the time to buy gold coins,” MacDonald concluded.
