U.S. rich doing gold reserves in their homes

Rich clients from a U.S. bank Merrill Lynch prefer to buy gold bullion, rather than financial instruments and securities due to instability of the global financial system. This was stated by an investment bank director Gary Dugan. "People are seriously concerned about how our world would look like in 2009. Many of our customers have turned to the side of gold" - he said. According to him, the rich are so worried they want to keep the transportable assets at home. "I never expected that to me will treat customers who need a box of South African Krugerrand," - he added. According to the forecast Merrill, gold will go up, and by June the price troy ounce reached in 1150 dollars. Precious metal remains a profitable investment for any new developments. In the event of deflation, it will be safe haven, but if large-scale programs to stimulate the economy will be effective and re-launch the mechanism of inflation, it will remain in the price, writes the Daily Telegraph. "When prices start to fall, with the deflationary psychology is very difficult to handle. People just stop buying things because they think that if the wait will be cheaper," - said Dugan.