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You?re insane if you don?t own gold, investors told

By Richard Evans, telegraph.co.uk

Not owning gold during the current financial turmoil is “a form of insanity”, according to an investment analyst at a leading City firm.

Robin Griffiths, a technical strategist at Cazenove Capital, told CNBC: “I think not owning gold is a form of insanity. It may even show unhealthy masochistic tendencies, which might need medical attention.”
He added that the dollar was heading for “oblivion”.
Mr Griffiths predicted that gold’s 10-year bull run would continue and even intensify. “Although it’s been a top performer for each of the last 10 years, it’s still in a linear trend,” he said. “Eventually it will go exponential and make more in the last little bit than the whole of the 10-year trend.”
He said investors should regard any short-term falls in the gold price as a buying opportunity, adding that gold was still not an “over-owned trade”.
His comments come against the background of the US Federal Reserve’s huge monetary stimulus from quantitative easing, which many believe will result in inflation and a fall in the value of the dollar.
“The downward trend in the dollar is awesomely powerful,” Mr Griffiths said. “It’s vital to get yourself out of the dollar long-term on any significant rally. Continuing to own a currency that is going to be printed virtually into oblivion ? that’s the official policy ? is crazy.”
He added: “Real assets hedge paper money being printed into oblivion, so you’ve got to own gold and you’ve got to own other commodity-related investments still.”

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