The Big Players In Gold Investment Today
When a lot of big players start focusing their attention on gold investment it’s time for the rest of us to start taking note. Do they know something we don’t?
So who are the big players?
Well firstly it’s Countries and Governments. Global demand for gold is being led by China and India who between them consumed more that 50% of the world’s gold in 2010.
Rumour has it that the United States is very concerned at China’s level of gold investment and the way they are gradually turning to gold reserves rather than the dollar. This is threatening the dollar’s position as the international reserve currency.
Russia, Turkey and Germany are increasing their gold reserves at a fast pace too.
Next it’s some of the world’s wealthiest individuals who are turning their attention to investing in gold:
Eric Mindich whose gold investment already exceeds $800 million is aware that gold has always increased in value over time and doesn’t see that trend changing.
Mikhail Prokhorov whose investment in gold exceeds $6 billion is concerned at the amount of money being printed and anticipates inflation driving up worldwide demand for raw materials including gold.
Thomas Kaplan who has over $2 billion invested in gold is a firm believer that everyone should own some gold.
John Paulson who has $4.6 billion tied up in gold believes that the price of gold is headed up to the $4000 an ounce level.
David Einhorn who has a net worth of $560 million favours gold because it’s a form of money that the government can’t print more of.
Seth Klarman who has over $1 billion invested in gold warns of potential currency debasement and soaring inflation and the need to hedge your assets with gold.
Jim Rogers whose net worth exceeds $300 million believes that investing in gold will become more and more important over the next decade.
Paul Tudor Jones whose net worth is $3.3 billion admits to not being an avid gold lover but despite that believes that now is the time to invest in gold.
Michael Avery who has $3.3 billion invested in the Waddell & Reed gold fund believes that history has proved to us that gold is the asset to turn to in times of economic uncertainty.
Of course there are more but with even these few prominent players focusing their attention on gold investment surely there is a lesson to be learnt.