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Argentines are purchasing more gold than ever to protect their savings from the Western Hemisphere’s fastest inflation as the country’s bonds endure the worst returns in developing nations.
Argentines are purchasing more gold than ever to protect their savings from the Western Hemisphere’s fastest inflation as the country’s bonds endure the worst returns in developing nations.
As quoted in market news:
Argentines are turning to the precious metal to preserve the value of their savings as economists forecast the peso will lose more value than any currency in the world and President Cristina Fernandez de Kirchner bans most dollar purchases. The nation’s estimated inflation rate of 26 percent is also eroding the value of fixed-income securities, causing Argentina’s peso- denominated bonds to lose 5.5 percent this year versus a 2.2 percent gain in emerging markets, according Barclays Plc.
