Tags: Juan Carlos Artigas | Gold | Long-Term | Trend

Metals Expert Artigas: Pay Attention to Gold’s Long-Term Trend

By    |   Friday, 19 Apr 2013 01:06 PM

The long-term trend in gold prices, and not the recent sell-off, is what investors should pay attention to when evaluating the precious metal, said gold expert Juan Carlos Artigas.

“We have seen exceptional moves in the gold market,” Artigas, the head of investment research for the World Gold Council, told Newsmax TV in an exclusive interview.

“For 12 years we have had … price gains … in the gold market. It has been a very valuable investment, not only for, perhaps, the returns they have made, but, really, what gold brings into the portfolio, which is diversification and overall stability.”

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The metal plunged 13 percent in two sessions through last Monday, the biggest slump since 1980, according to Bloomberg News. Gold futures on Tuesday slid to $1,321.50, the lowest since January 2011 amid concern that central banks in Europe will sell holdings to pay debt.

Near midday Friday, gold futures rebounded to above $1,4000 as demand for jewels and coins surged, Bloomberg News reported.

Editor’s Note: Put the World’s Top Financial Minds to Work for You

The price pullback can be counted on to send bargain-hunters into the market.

“The pullback in the price of gold not only this time, but in previous times, prompted a lot of buy-in from Asia, in particular, China, India, and many of the other countries that have quite a large affinity to gold in that they understand the long-term advantages and benefits of holding gold,” Artigas said.

He brought up the fact that sometimes investors, especially in the U.S., question why anyone would care about what India or China are doing.

“More than 50 percent of demand … comes from India and China alone, and almost 70 percent of demand as of last year was coming from emerging markets,” Artigas said.

“In the East, in the Asian countries, gold is understood as a store of wealth," he said. "It’s an asset that is accessible, that people understand, that people follow, that people understand how they can transfer wealth from generation to generation," he said.

"So it not only has a religious and cultural affinity in India and cultural affinities overall in Asia, but also it’s a very tangible asset that they know how to access and that they can use to protect wealth.

“So maybe on an intraday basis you want to be looking at your monitors, but on the long-term basis you really want to think about emerging markets.”

Editor’s Note: Put the World’s Top Financial Minds to Work for You

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The long-term trend in gold prices, and not the recent sell-off, is what investors should pay attention to when evaluating the precious metal, said gold expert Juan Carlos Artigas.
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2013-06-19
Friday, 19 Apr 2013 01:06 PM
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