Archive for February 14th, 2010
Made in Germany | Gold Rush
International demand for gold is higher than ever, with prices rising accordingly. On March 17, the price for a fine ounce, or 31.10 grams, topped 1030 dollars, a historic high. Investors have caught gold fever, but instead of heading for Alaska with a spade and sieve, they are speculating on stock exchanges with gold funds and certificates. Unsettled by the US sub-prime mortgage crisis, investors have shed their shares and are putting their cash in raw materials and fine metals, with gold, always a safe haven in times of financial crisis, topping the wish list. London is the centre of gold trading in Europe, so Claudia Laszczak asked analysts and dealers there what is driving up the gold price and how much higher could it go.