SOURCE: Bullion Management Group Inc.

Bullion Management Group Inc.

December 01, 2010 00:01 ET

Precious Metals Expert Nick Barisheff Predicts $1700 to $2000 Gold in 2011, Addresses China Gold Summit on Benefits of Gold as Money and Holding Physical Bullion

SHANGHAI, CHINA--(Marketwire - December 1, 2010) -  CHINA GOLD & PRECIOUS METALS SUMMIT 2010 -- As risks to major currencies increase through competitive devaluation and quantitative easing programs in the West, Nick Barisheff, president and CEO of Bullion Management Group Inc. (BMG), recommends that high net worth investors seeking a safe haven for their assets consider the merits of unencumbered physical bullion with no financial intermediaries or counter-party risk.

In a keynote speech he is giving today at the China Gold & Precious Metals Summit entitled "Gold is Money: How valuable will the money of last resort become?", Barisheff states that physical bullion must be at the foundation of any intelligent investment portfolio, and predicts that if gold continues to perform as it has over the past 3 years then the gold price could rise to US$1,700-$2,000 per ounce in 2011.

"With currencies being deliberately compromised worldwide, owning gold, silver, and platinum bars is like having a real fire extinguisher instead of a paper picture of a fire extinguisher," says Barisheff. "Many of today's bullion investments really are paper proxies rather than physical bullion." The BMG BullionBars program provides clients with the opportunity to buy and hold physical bullion in Canada on an allocated and insured basis, with the option of on-demand delivery anywhere in the world."

Barisheff also points to Canada's excellent financial fundamentals to justify storing bullion in that country. Canada enjoys the security of the World's soundest banking system, according to the World Economic Forum. According to the International Monetary Fund, Canada is also projected to have the fastest economic growth among G7 countries for 2011, as well as the lowest debt-to-GDP ratio in the G7.

About Bullion Management Group Inc.
Toronto-based Bullion Management Group Inc. is one of the world's fast-growing precious metals bullion investment companies, with $CDN 460 million of bullion investments under management. BMG BullionFund is the world's first and only open-end Mutual Fund Trust that invests directly in equal dollar amounts of unencumbered fully allocated gold, silver and platinum bullion which also qualifies for all registered plans. BMG Gold BullionFund is designed for investors with a convenient method of obtaining the benefits associated with holding physical gold in bullion form. The BMG BullionBars program meets the needs of investors seeking to purchase and hold individual bars of investment-grade gold, silver and platinum bullion. For more information on BMG bullion investment products, please visit: www.bmgbullion.com

Contact Information

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