Physical Gold Responds to Pound Falling Against Euro

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Leading UK gold dealer, Physical Gold, has responded to pound sterling declining against the Euro in its second weekly drop.

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Gold investment may be worth exploring as an option as it gold is fairly good at retaining its value and works as a good hedge against inflation.

Pound Sterling has fallen again, as it heads for its second weekly drop against the euro and is set for its second weekly decline versus the dollar, reports Bloomberg.

Bank of England policy maker David Miles said that the central bank should increase stimulus and look at new measures to boost the economy.

In Bank of England minutes released on February 20, Governor Mervyn King and Paul Fisher voted to increase the central bank’s asset-purchasing target, otherwise known as quantative easing, by £25 billion to take it to £400 billion. However the three were outvoted by the other six members of the Monetary Policy Committee.

A spokesperson from Physical Gold said:

“The pound has not fared well in recent weeks, and with talk of further quantitative easing in Britain, savers could see their assets’ devaluing as quantitative easing often tends to weaken paper currencies. Gold investment may be worth exploring as an option as it gold is fairly good at retaining its value and works as a good hedge 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.

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Dan Fisher
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