Global demand for gold bars and bullion coins has surged to the highest level since the collapse of Lehman Brothers in 2008 as investors, particularly from Germany, seek refuge amid volatile financial markets in Europe.
The demand surge helped push gold prices to within a whisker of their all-time high yesterday. Spot gold in London surged to $1,223.90 a troy ounce, the highest level for the year and just below December's record of $1,226.10.
Gold prices in euro terms yesterday hit a fresh all-time high of €963.10 an ounce, up almost 26 per cent since the beginning of the year. In Frankfurt, gold sellers said that demand late last week was three to four times normal levels.
Traders and coin dealers said consumption was exceptionally strong from German and Swiss investors. The spike appears to have happened because of deep concerns in Germany about the potential inflationary impact of the European Central Bank's decision to buy up eurozone government bonds in the wake of the Greek debt crisis.
read the rest:
http://www.ft.com/cms/s/0/0e4da1e8-5...44feab49a.html
Site Information
About Us
- RonPaulForums.com is an independent grassroots outfit not officially connected to Ron Paul but dedicated to his mission. For more information see our Mission Statement.
Connect With Us