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Gold Investing News reports gold is been talked about almost all media. The company has disclosed it recently invested around US$400 million to buy the yellow metal in the expectation that it was not only a prudent way to preserve its funds but also that the metal’s price would rise significantly. The company has bought …
Gold Investing News reports gold is been talked about almost all media.
The company has disclosed it recently invested around US$400 million to buy the yellow metal in the expectation that it was not only a prudent way to preserve its funds but also that the metal’s price would rise significantly. The company has bought the precious metal to hedge against further asset declines.
This is significant because here is a presumably conservatively-run company putting a good deal of faith in gold. “Gold just seems to make sense; it’s a store of value,” Chief Executive Officer Edward Zore said in an interview, following his comments at a conference hosted by Standard & Poor’s in Brooklyn.
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