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  1. Wealth
May 6, 2009

WBrief: Gold still has far to rise, says Cheviot AM

By Spear's

Gold prices have risen sharply since the early part of the decade, frequently cited by wealth managers as a good store of value in volatile times. And yet the yellow metal is still far away from its all-time high in 1980, suggesting there is plenty of upside left, according to UK-based Cheviot Asset Management.

From Wealth Briefing:

Gold prices have risen sharply since the early part of the decade, frequently cited by wealth managers as a good store of value in volatile times. And yet the yellow metal is still far away from its all-time high in 1980, suggesting there is plenty of upside left, according to UK-based Cheviot Asset Management.

Gold hit a record high of around $2,500 per ounce, when measured in 2008 dollars and adjusted for inflation, compared to its level of around $1,700 now when measured on the same basis, Cheviot says in a note by Ned Naylor-Leyland, a portfolio advisor.

Fears that central banks have printed vast amounts of fresh money, coupled with supply constraints on gold and its attractions as a safe-haven asset, conspire to make this a still attractive asset, Mr Naylor-Leyland says.

To read the full story, visit wealthbriefing.com

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