Since the earliest human civilizations, men have prized gold as a treasure above all others. Its scarcity and the value attached to it in all societies has made it a commodity sought after not only by jewellery makers, but governments that use it to fund wars and back currencies.

Yet for some anxious investors in a time of economic doubt, gold has another appeal: safety. With sovereign debt crises casting considerable doubt on traditional safe havens - particularly in the eurozone - many investors seem to be taking a second look at gold, and liking what they see. Indeed, it was reported this week that Mints throughout the world were struggling to cope with demand, with the South African Mint raising production of the Krugerrand gold coin by some 50 percent. Last week the price of gold hit an all-time high (a record before adjusted for inflation) at $1,250 an ounce, largely in response to events in Europe.

This week, a select group of local investors had a chance to explore the opportunity for themselves in a presentation given by LOM head trader Dave Barker. Part of the company's Professional Development Seminars series, the talk took investors through the history of gold from the earliest times to the present day while introducing them to a variety of gold-related services and products offered by LOM.

"In an environment where major Western governments are running colossal budget and fiscal deficits, we see our long-term, well-heeled and well-informed clients continuing to express significant interest in purchasing gold in all forms," Mr. Barker told The Royal Gazette after the presentation.

Investing in gold is not limited to purchasing gold bars like the type stored in the LOM vault. Investors can speculate in actual mining companies, futures, and the increasingly popular exchange-traded-funds, or ETF's, securities which track the price of gold.

Yet, investors should remember that the price of gold can rise and fall like any commodity. Still, Mr. Barker says a drastic slump in the price of gold - like that which occurred after similar record highs in 1980 - is not likely in the near future.

"We believe that the outlook for the price of gold remains favourable across at least the medium term. While corrections in price should not be ruled out (as with any financial instrument) the fundamental backdrop of the developed world's fiscal situation does not at the moment support the notion of an '80's style collapse," he said, noting that the fluctuations in the price precious metals in the early '80s was largely due to market manipulations.

With more troubling reports emerging this week about sovereign debt in Europe, it seems the last true safe haven available to investors may be the oldest one as well.