LONDON, 1 May 2011 - BullionVault founder and CEO Paul Tustain is quoted at length today in a feature on the rising price of gold published in the UK's national Independent on Sunday.
"I believe gold is worth a great deal more than the price it's currently trading at, based on my own expectations for the rate of inflation and currency devaluation," Paul tells the newspaper.
"I value it at around $3,800 an ounce."
Contrasting Paul's view with bearish comments from financial commentator David Kuo of BBC London radio and the Fool.co.uk website, "Mr Tustain's business has grown massively off the back of the march of gold," says The Independent.
"Gold prices can still go higher," it quotes Darius McDermott of advisors Chelsea Financial Services. "You have the Chinese government and individuals buying gold as a way of diversifying away from the US Dollar. With inflation high in some of the emerging markets gold is being used as a hedge against rising prices."
Middle East instability, plus the West's ongoing government debt problems, also point to rising gold prices ahead, notes the newspaper, and "It is the ability of gold to rescue your finances when things go badly wrong that gives it a valuable premium above its long-term base value," says Paul.
You can read more of Paul Tustain's analysis at the Independent on Sunday here...
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