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Los Angeles CA, Apr 28 (Tangible Investments) - by James O’Dell - Gold rebounded sharply from a 2 1/2 month low on Friday after gaining $8.62 or 0.67 percent to close the week higher at $1,302.12 an ounce, as the dollar edged lower and stocks tanked globally with the Dow plunging triple digits while the Russian stock index tumbled nearly 5 percent for the week as tensions in Ukraine threatened to boil over, and it has given a boost to gold's safe-haven appeal. The price of Silver rose $0.06 or 0.31 percent to close the week at $19.69 an ounce.
 
"The rebound at the end of last week was driven mostly by safe-haven buyers and some investor buying on new April lows." said VTB Capital's Andrey Kryuchenkov. "For now, all eyes will be on Ukraine and potentially extended sanction[s] against Russia."
 
Swiss National Bank (SNB) President Thomas Jordan acknowledged, on Friday, investor's need for a safe-haven, however he hopes you will choose gold bullion over the Swiss franc. There is not one nation today it seems, that wants a strong currency, and that sentiment is being reflected in the monetary policy of their central banks. The major central banks have been quite clear; don’t buy our currencies, not for safe-havens or any reason for that matter, and they are prepared to debase their currencies to prevent you from profiting if you fail to heed their warnings.
 
So, if you're looking for a longer term safe-haven, buy gold, it's been a proven safe-haven far longer than any fiat currency. Grant Williams, of Mauldin Economics, calls gold “unsure-ance,” and he adds, “if you’re 20 percent unsure about the future, you might consider putting 20 percent of your assets in gold.” Meanwhile, gold premiums in India, the world’s second largest gold consumer, hit $110 an ounce over London prices, due to short supplies ahead of the Akshaya Tritiya festival starting on Friday.
 
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