(PRWEB UK) 25 January 2013
Britain is reportedly heading for a triple dip recession, after the economy shrank by 0.3% at the end of 2012, according to an article by the BBC.
The Office For National Statistics said the fall in output was largely due to a drop in mining and quarrying, after maintenance delays at the UK's largest North Sea oil field.
This is a more serious contraction than economists expected and is a massive reversal from the 0.9% growth experienced in the third quarter thanks to one-off factors such as the Olympics and Diamond Jubilee.
The UK economy has not experienced a triple dip recession since records began, but it came close in the 1970s when the country experienced a two year recession in which Britons experienced high inflation of more than 20%.
Physical Gold is recommending that savers consider gold investment as an option, as gold has proven a good hedge against inflation.
A spokesperson from Physical Gold said:
“It was hoped the UK was coming out of recession, but this latest data does not look positive. It’s likely the snow will not have helped matters for the UK economy either. With predictions for the economy looking far from positive and the threat of inflation, it is well worth considering gold investment to protect the value of your assets. Gold has proven itself to be one of the best hedges against inflation.”
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.