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Another major factor which contributes to Mr. Hathaway''s view is that he believes there is a significant supply shortage in gold, which is being caused by the widespread placing of paper equivalents on the market.

His sentiments have been echoed by Vahid Fathi, a commodities industry analyst for research firm Morningstar, who believes that gold should form between three and five per cent of an investment portfolio.

He told the newspaper that declines in the supply of "oil, copper, cement, everything used to extract gold from the ground are not discounted in the marketplace".

"As we begin to see margin improvement, we will see significant room for upward movement," he added.

Obama-Pelosi Stimulus May Fail to Reignite Economy (Update1)

By Rich Miller

Nov. 17 (Bloomberg) -- President-elect Barack Obama and House Speaker Nancy Pelosi may throw as much as half a trillion dollars worth of stimulus at the economy -- and have little or no growth to show for it.

``It''s hard for me to imagine we''ll have a return to positive growth before the fourth quarter of 2009, even with a $500 billion stimulus,'''' says Barry Eichengreen, an economics professor at the University of California, Berkeley. He sees the unemployment rate rising to 9.5 percent in early 2010, from 6.5 percent now.

The first dose of fiscal medicine might come within weeks, following the return of Congress today for a lame-duck session, and would focus on stepped-up government spending. The balance, including a tax rebate, would come after Obama assumes the presidency in January.

Mark Zandi, chief economist at Moody''s Economy.com in West Chester, Pennsylvania, says the economy may contract 2 percent next year without a package of at least $300 billion. With it, ``we could get growth pretty close to zero,'''' he adds. That would still be the worst result since 1991

Right time now to invest in gold: Experts


Amid melting equity markets, it is the right time to bet on gold, which is considered as a safe investment during crisis, say experts.

"Many investors lost heavily on the equities and it also seems to be a threat in the real estate market.

Now it is high time for people to invest in gold, which is the best return on investment option," World Gold Council Vice- President K Shivaram told PTI.

Gold is considered a liquid asset and investing in that would be wise because its value always increases with time, he added.

India is the largest importer and consumer of gold in the world. Indian gold consumption is between 700-800 tonnes a year, which is 25 per cent of world consumption. Interestingly, South India constitutes about 40 to 50 per cent of the country''s total consumption.

Traders predict that if the current gold demand continues, the full-year consumption of gold in India could increase more than 10 per cent on year to 900 tonnes. Traditionally, gold demand peaks in the country during November and December, considered to be the season of festivals and weddings.

Shivram said gold retailers were doing good business throughout this year. "Especially over the last two to three weeks, the retail business of gold is doing better than expected," he said.

Qatar- Gold demand surges on back of reduced supply




(MENAFN - Bahrain Tribune) Demand for gold in the local market has shot up following a dip in prices. Traders, however, say they are hit by a shortage of pure gold in Dubai that has adversely affected the supply of ornaments.

Several jewellers told The Peninsula yesterday that their sales had gone up by up to 50 percent over the past two weeks as people went on a buying spree to take advantage of the low prices. Yesterday, 22- carat gold was sold in the local market for QR84.50 per gram. The prices had fallen up to QR82 per gram last week after reaching record highs in recent months.

Some traders noted that a surge in local demand could have also contributed to the shortage in the Dubai market, which has been witnessing one of the heaviest gold sales in recent months.

"It seems the customers were waiting for a price fall. We have seen an increase of about 50 percent in the sales over the past two weeks. People are buying for their personal use and also for investment. Since the prices continue to fluctuate, many customers feel they will gain if they buy gold now," said another trader, based in the Old Airport area.

He said the last two days had seen a slight rise in prices, which had gone up to QR85 per gram during the weekend, before showing a marginal decline yesterday.

''US is bankrupt, physical gold is cheap''
2008-11-11 18:25:00

If we could have a do-over of Bretton Woods, is there currently even enough gold anywhere to be able to tie it the world''s currencies?

Bob Moriarty: Everybody makes the mistake of thinking that you need a lot of gold for a gold standard. The only thing gold does in a gold standard is give the currency discipline, but that''s why it''s so valuable. If you have discipline with the currency, you don''t have the kind of chaos we have today. Without discipline, you end up with $596 trillion worth of derivatives and nobody in either finance or government saying, "Hey, by the way, that''s a really bad idea