World Banks Revealed to Be Hoarding Gold
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The Central banks and the International Monetary Fund (IMF) just reported sales of 94.5 metric tons of gold over the past year.

While that's about half of America's annual consumption, it sparked concerns in the gold community that Central Banks might be starting to hoard gold ahead of significant currency crises in Europe as well as the United States.

Canada's Central Bank Governor Mark Carney debated plans to raise interest rates at the same time that Federal Reserve Chairman Ben Bernanke discussed another round of "quantitative easing."

In any event the news has been extremely bullish for gold prices, as gold futures price hit $1,300 for the first time ever last week.

Investors looking to capitalize the trend need look no further than a single timely investment that tends to lag gains made in the price of gold.

That's according to Kevin McElroy, the editor of the Resource Prospector of Wyatt Investment Research. Mr. McElroy recently worked with Chief Investment Strategist Ian Wyatt to put together a detailed research report all about investing in commodity ETFs, one of them being a gold investment better than the more famous GLD. Investors can access a full write up on this report, which includes a gold investment that tracks some of the most profitable gold mining companies.

So far this year, this investment is up over 23% - while the S&P 500 is only up 3.5%.

With gold selling near $1,300 these companies are more profitable than ever.

Click here to read the full story.





Posted 09-28-2010 9:23 AM by Ian Wyatt