|
|
Article: Put all your eggs in the gold basket. (View from the City).(price of gold has made a comeback in the last year)
- Article from:
- African Business
- Article date:
- March 1, 2003
- Author:
CopyrightCOPYRIGHT 2003 IC Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Gold has made a remarkable comeback over the past year, with prices last January soaring to a six-year high of $372.55/oz per troy ounce. Today's unusual geopolitical and economic scenarios provide the perfect support for investing in the bullion market.
Large institutional and private investors are jittery about the current strength of the global economy. They have a great deal to worry about: the collapse of confidence in global equity markets; the vulnerability of the US dollar, weighed down by a ballooning trade deficit; persistent threats of Al-Qaida-led terrorist attacks; the probable US strike on Iraq and the consequent potential for a wider Middle East ...