A recent note to clients authored by Goldman Sachs analysts, including Jeffrey Currie and Michael Hinds, emphasized the continuing importance of gold and silver to investors, saying precious metals remain a relevant asset class in modern portfolios. The report focused on precious metals’ durability and intrinsic value, noting they are neither a historic accident nor a relic, even with new assets such as cryptocurrencies emerging.
The use of precious metals is not a historical accident – they are still the best long-term store of value out of the known elements.’
The note also focused on Bitcoin, saying investors shouldn’t consider cryptocurrencies the ‘new gold.’
Gold wins out over cryptocurrencies in a majority of the key characteristics of money.’
As summarized by Bloomberg, the Goldman note emphasized that both uncertainty and wealth creation drive investment in gold.
This post was published at Schiffgold on OCTOBER 19, 2017.
Follow on Twitter
Recent Comments