» “Zen International”– Fear Factor Boosts Gold Prices… Submit Press Releases

“Zen International”: With more debt being piled upon more debt, gold is looking more attractive by the day.

“Zen International”: As the risk of contagion from the Greek debt crisis continues to weigh on investors’ minds, more of them are eschewing the perceived safety of US Treasury bonds in favor of the ultimate safe-haven, gold.

Gold has been steadily rising in price over the past few weeks despite the announcement of a bailout package for the country but investors are slowly losing confidence of the ability of governments to deal with the surfeit of problems faced by several EU countries and some say that it is inevitable that the US dollar and other major currencies will be dragged into the crisis since they are all issuing huge amounts of debt to finance their struggling economic recoveries.

“Zen International” strategists continue to remind clients that an investment in gold does not expose the holder to counterparty risk – that is, its value is not dependent on someone else’s ability to pay – and that quality is becoming particularly attractive to investors, especially those partly exposed to the sovereign debt of the PIIGS nations.

Gold reached an all-time high in US dollar terms of $1226.10 in December 2009 and has, this week, approached that figure registering an intraday high on Tuesday of $1224.30.

“Zen International” analysts said that, for many of its clients who are not US-based, gold has already hit fresh highs and cited the price in British Pounds reaching £823 as an example of how gold had helped sterling holders to counter the effects of the stealth devaluation that had afflicted the currency.