Right time to buy gold, say academics

ISTANBUL - Reuters

A recent survey attended by Turkish economy academics has claimed that gold will be the best investment tool this year unlike 2012.

The best investment tool this year will be gold, according to academics who took part in a survey held by Istanbul Economic Research Association (IEAD). In the same survey, the participants also cite unemployment and the current account deficit as the economy’s leading problems.

More than 330 economy academics, professors and associate professors answered online survey questions on the Turkish and global economy and 2013 expectations. The academics found the general situation of the Turkish economy swinging between “fine” and “normal,” but they find the government’s inflation and growth targets ambitious and hard to achieve.

They said unemployment and the current account deficit will continue being chronic sources of concern for the Turkish economy.

One of the most striking findings of the survey is the academics’ belief that gold will be most profitable investment tool, edging out stocks.