**[investwise]** Gold: Another Day, Another Record

 

Another day, another record high for gold.   On Friday the August futures contract for gold reached $1,260 an ounce before cooling down. "It's a pretty challenging time in the market and gold represents a couple of different things," says Justin Golden, strategist at Macro Risk Advisors, "and what it now represents for investors is a storage of value when fiat currencies become more risky."   The market is nervous, particularly about what is happening in Europe, and Golden quips that it feels like every headline is market-moving these days. The result is some volatile movements in precious metal prices.   Golden says the headline people are focused on now is the slower-growth forecast for developed markets. "The consensus seems to be that developed nations will face short-term deflationary pressures before money printing and bloated central bank balance sheets ultimately lead to excess money supply chasing prices higher," he says.   Golden expects gold to continue to trade higher as long as the markets are not confident in the ability of governments and central banks to help their economies stand on their own. While the goldbugs have kept the yellow metal in the headlines, there has also been increased interest in silver as a similar store of value play, albeit one with an industrial bent as well.   "Some people have called silver the poor man's gold," Golden says, "but silver straddles the industrial use and monetary use fence, and while copper has done poorly because it trades solely off industrial growth, silver offers some protection [thanks to its other uses] and opportunity if the market comes back." Safe Harbor Statement: Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.   Nothing in this article is, or should be construed as, investment advice.

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