Monday, January 26, 2009
Will gold prove to be the safe haven everyone is talking about? Or is it another bubble in the makin
Gold rose above $900 a troy ounce on Monday, hitting a three and a half month high and posting record highs in euro and sterling terms as investors sought safe haven from troubled equities markets and expensive government bonds. Precious metals traders said that investors, particularly in Europe, were pouring money into gold exchange traded funds – a popular way to gain access to the metal – and also buying physical gold, from coins to large bars.