No metals have the divisive impact among economists, bankers and investors as gold and silver. The viewpoints of the two camps are noted and the writer's own conclusions on where they are headed.
Author: Lawrence WilliamsPosted: Monday , 24 Oct 2011
LONDON -
Gold and silver followers seem to be principally divided into two camps - believers and non-believers, with a batch of speculators somewhere in between who are looking to make money whether the precious metals rise or fall. It is doubtful if any other metals can generate either the rabid enthusiasm, or the opprobrium, which are the hallmarks of those who favour one camp or the other.
In trying to take a totally impartial view on the metals, logic would seem to favour the non-believers. After all gold, in particular, has few real industrial uses if one rules out adornment. Yes it is used in electronics, and dentistry (although perhaps to a lesser extent in the latter nowadays) and odd industrial uses such as a catalyst or in other sectors, but without jewellery and investment offtake global gold supply would enormously exceed demand and the price would plunge. Furthermore, as an investment, gold on the face of things is a poor choice paying no interest and incurring storage charges. So why on earth would anyone with a logical mind choose gold as a wealth and/or inflation protector? .......
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