Gold reaches record high and other precious metal commodities follow suit
Written by admin on January 14th, 2008 in Commodities, Trading, World Markets.
The price of Gold today reached a new all time high when it was traded at $914 an ounce, up on the $866 high mentioned on Financial Market on the 3rd January.
With continued safe haven buying as investors seek a protection from looming recession in the US Gold has continued to set all time trading highs.
A continued weak Dollar has continued to boost the metal as foreign currency investors look to take advantage of their strong position in world trading. This time however it was other precious metals that were also recording all time trading highs for themselves, with Platinum also trading at $1,587 an ounce, and silver hitting a 27 year high of $16.58.
Precious metals are surging after the collapse of high risk sub-prime home loans market spurred a global credit crunch. Now investors are looking for investments with a perceived lower risk.
