Gold emerges lone saviour for investors!

January 16, 2009

Commodity Online
NEW DELHI: If you have any doubt about gold’s omnipotent role in ensuring a safe haven for all investors, just read a new research report which says that turnover in gold rose by 58 per cent last year to a record $20.2 trillion.

As you know the yellow metal has been a safe haven for investors for centuries and whenever a crisis arrived, gold always emerged as the lone saviour for people.

This time also when recession hit almost all nations, gold recorded increased trading.

A report by International Financial Services London (ISFL) said financial turmoil has led to more people investing in precious metals and daily reported net trading in gold on the London Bullion Market Association averaged $20 billion for the first 11 months of last year.

According to the ISFL Bullion Markets 2009 report, the traditional safe haven appeal of precious metals has attracted many investors to this asset class.

The report suggested that the decentralised over-the-counter market accounted for almost three-quarters of gold trading last year.

Even stock brokers in several countries started advising people to purchase physical gold in order to weather the current economic crisis, as it has performed well in the current financial markets slowdown.

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