Gold continues to rise as investor concerns grow
The price of gold has now risen above the psychological $1000 barrier as investors look towards safe havens in times of trouble. The price of the precious metal has been on an upward spiral since February 2001 when the price was just $254. A mixture of turmoil in international stock market, ailing economies and general investor concern about the outlook for the worldwide economy has seen many investors turn to gold.
We have covered the price of gold in some of our earlier articles and highlighted the fact that many analysts had expected the price to rise above the $1000 barrier as worsening conditions around the world impacted upon more traditional investment market. The price has flirted with the $1000 barrier for some days now but the rise above the psychological figure appeared inevitable as UK and US stock markets fell sharply today.
At this moment in time it seems that any alternative to the traditional stock markets, property markets and money markets is a preferred route for those brave enough to invest their funds with some commodities and especially gold benefiting substantially. Quite where the price of gold goes from this level remains to be seen but the further economies and stock markets fall the more likely the price of gold is to rise.
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