Monday, July 27, 2009

History Gold Purchase

Getting Real About Gold
America's third largest life insurer, Northwestern Mutual Life Insurance, has been in existence for 152 years. It has never in all those years bought gold - until now. The company has disclosed it recently invested around $US400 million to buy the yellow metal in the expectation that it was not only a prudent way to preserve its funds but also that the metal's price will rise significantly. This is significant because here is a presumably conservatively-run company putting a good deal of faith in gold. We’re not just listening to the gold bugs anymore - their predictions are finally coming true. The rest of the world is now starting to buy the gold story.

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