LONDON, 1 March 2011 - The privately-owned gold bullion stored in secure, specialist vaults for customers of BullionVault has grown above US$1 billion in value, reports Investment International, the leading offshore personal-finance magazine for British and international private investors.
"Despite a recent dip in gold prices below their all-time high of $1430 in early December," the magazine quotes Adrian Ash, head of research at BullionVault, "our $1 billion milestone indicates that demand for the traditional inflation hedge remains strong due to the ongoing threat of currency devaluation."
Reviewing the current gold-price outlook, Investment International - now serving expatriate investors with tips and advice for more than 20 years - also quotes George Albino, precious metals analyst at Canadian brokerage GMP Securities, who notes the impact on gold prices of unrest and revolution in the oil-rich Middle East back in 1973 and then in 1979.
"While we do not have a crystal ball, we do believe that any spread in the current unrest in North Africa/Mideast could have a very significant impact on short-term and - as we've seen from those prior examples - long-term gold prices," says Albino, highlighting how gold prices stabilized at much higher levels post-crisis.
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