Expert: Gold watches will become increasingly valuable

First published: 08-02-2010

While the value of precious metals on the world's stock exchanges has been falling in the last few weeks, this could make it the perfect time to buy a gold watch.

Adam Hamilton, a long-term speculator, has told Stockopedia that the HUI - which measures this - had fallen by a sixth of its value in the last eight trading days, making it a great time to buy.

He acknowledged that this could be seen as a bad thing, but pointed out that the best investment strategy is to buy when the price is low.

"If you want to multiply your capital in the markets, the surest way to do it is to buy aggressively when nearly everyone else is rushing to abandon ship," he highlighted.

Mr Hamilton predicted that assets of this type, such as gold watches, will quickly return to their former value.

Earlier this month, Newmont Mining Corporation president Richard O'Brien claimed that gold prices could rise to $1,350 (£846) per ounce this year.

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