• 2 hours How America Could Go Green Right Now
  • 1 day Russian Prestige And American Politics: The COVID Vaccine Race
  • 1 day Is The Silver Rally Over Or Just Getting Started?
  • 2 days Alibaba-Backed Tesla Competitor Set To IPO In The U.S.
  • 2 days Emerging Economies Could Get Left Behind In Race For COVID Vaccine
  • 3 days Dead Malls Could Be Amazon’s Next Target
  • 3 days Unpacking Biden's Energy Plan
  • 3 days Russia Aims To Become World's Top Gold Producer
  • 4 days Global Tech Stocks On Edge Over Trump TikTok Ban
  • 4 days Cobalt Squeeze Threatens The Electric Vehicle Boom
  • 5 days COVID Has Sparked A Surge In Cybercrime
  • 5 days Precious Metals Bulls Still Have Plenty Of Room To Run
  • 6 days The U.S. Has The Tech To Go Green, But Will It Use It?
  • 6 days Massive Losses Force Russian Commodities Giant To Slash Dividends
  • 7 days Markets Up On Stimulus Hope
  • 7 days UK To Invest In Europe's First Geothermal Lithium Recovery Plant
  • 8 days TikTok Takes Center Stage In US-China Tech War
  • 8 days Are Semiconductor Stocks Overvalued?
  • 9 days Jobs Report Doesn’t Say Much Amid COVID Uncertainty
  • 9 days Crypto FOMO Heats Up As Bitcoin Climbs Above $11,000
How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Gold Investments

Gold Investments

Gold Investments

Gold & Silver Investments Limited trading as Gold Investments is regulated by the Financial Regulator as a multi-agency intermediary. Our Financial Regulator Reference Number is…

Contact Author

  1. Home
  2. Markets
  3. Other

Gold Investments Market Update

Crude oil briefly dipped below $55 a barrel yesterday for the first time in 22 months prompted by reports, warning that demand will be significantly weaker in 2009 due to the global economic downturn.

Despite this, Gold gained slightly on the news that Chinese investors' demand had surged in the first nine months of 2008. Gold is currently trading at $728 after closing in New York on Wednesday at $710.30.

In wealth preservation terms, Gold is still doing an admirable job. The metal is up 7 per cent since the start of the financial crisis in August 2007. This contrasts with losses of over 40% on the S&P 500 index. The situation looks even better in Europe. In Sterling terms Gold is up 46% since last August and 17% in Euro terms.

Sterling took another hammering yesterday and hit a 6 and a half year low against the Dollar and an all time low against the Euro. Analysts believe that this is due to predictions that the Bank of England will cut rates sharply.

On the eve of the G20 summit it is likely that the 3 main themes will be: economic policy, the need to rethink global financial regulation and the need to modernise international financial institutions. National Leaders are expected to agree a statement on the origins of the financial crisis but in a way that does not solely ascribe blame on the U.S. This would seem to be in line with comments from 5 of the most powerful hedge fund managers, including George Soros, who blamed the current crisis on the "system itself" and warned that excessive regulation would "stifle the best innovative qualities" of the market.

George Soros also said that recession was inevitable. It must have been a hoot to be in that meeting!

 

Back to homepage

Leave a comment

Leave a comment