Physical Gold Responds to Sterling Reaching Nine Month Low

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Leading UK gold dealer, Physical Gold, has responded to sterling reaching a nine month low against the euro, amid fears over the UK economy.

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Gold investment is worth considering for savers during these uncertain economic times as it provides a more reliable store of wealth.

Sterling fell as low as €1.1954 against the Euro as well as reaching an eight week low of $1.5957 against the US dollar.

Analysts have said the drop is due to concerns over Britain’s AAA credit rating and the calming of the Eurozone debt crisis. Another contributing factor could be the uncertainty over the UK’s future in the EU.

Investment in gold is a popular option for many during times of weaker currency, as the precious metal tends to hold it’s value.

A spokesperson for Physical Gold said:

“With the pound deprecating and the continuing threat of inflation, many savers may experience interest and saving rate lows – with their returns low or even negative. Gold investment is worth considering for savers during these uncertain economic times as it provides a more reliable store of wealth. Bank savings are not the safeguard they once were.”

Physical Gold is continuing to monitor these latest developments with interest.

Physical Gold Ltd is a leading UK gold dealer, helping investors diversify their portfolios with innovative investment solutions. Renowned for their ground breaking products such as the Sipp gold and Gold Accumulation Account, the firm specialise in providing customers with tailored assistance in sourcing the best gold for their personal requirements. Based in London, the team are BNTA accredited and have an unrivalled knowledge of the gold market as well as an exceptional understanding of the general financial markets.

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Dan Fisher
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