Better to own gold

Gold prices have risen higher than ever before. On Tuesday the price of one ounce of gold rose for the first time above 1,200 dollars an ounce on international markets. An excellent investment, writes the daily Les Echos: "One thousand, one thousand one hundred, one thousand two hundred dollars. In three months gold has passed these symbolic limits with an astonishing ease. The way things stand, if the economic recovery is confirmed, it risks being accompanied by a return of inflation fuelled by an explosion in public deficits, low interest rates and a rise in the price of raw materials, with oil leading the way. Conversely, if the promises of recovery fall flat, the large economies will be in difficulty and their currencies will be under attack. In either case it is better to own gold than paper money or any other asset."

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