Andreas Maag Bailey McCann, Opalesque New York
Andreas Maag is the Executive Director EMEA & APAC, and Head of Precious Metals Sales at UBS Investment Bank. He has significant experience in gold and other precious metals strategies. Gold is the subject of controversy now as some big name investors are cutting their positions as worries of a bubble grow. However, others - like Maag - see the volatility in gold prices as merely market corrections that carry upside potential.
Mr. Maag was recently interviewed by Sona Blessing for Opalesque Radio.
Gold is on the verge of completing its 11th consecutive annual gain. But some investors are making major moves to shift out of the asset, Blomberg reported this week. George Soros, John Paulson, and Eric Mindich have all sold bullion this year. While some have speculated as much as a 37% price increase through 2012.
According to Maag, gold still represents a safe haven for investors despite price corrections and some correlation to the equity markets. "People have had to make their margin calls, and to do that some are selling gold, so you've seen the price go down. But the question is, should investors get out of gold completely and take profits or keep it as insurance."
Beyond margin calls, Maag explains, a stronger do......................
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