– History may repeat itself for gold demand and prices as world economy looks set to slow
– Three reasons for gold’s extended rally from 2008 to 2011 may be making a comeback
– As global growth looks to be slowing, hopes grow for repeat of 2008-11 rally that saw gold almost triple in value
by Clyde Russell of Thomson Reuters
The three legs that supported gold’s extended rally from just after the 2008 global recession until the all-time peak in 2011 may be making something of a comeback this year.
Gold in USD 10 Years – GoldCore.com
This is sparking hopes that the precious metal may finally break out of a fairly narrow five-year range, although it’s still far from certain that the dynamics for a sustained rally are entrenched.
The 2008-11 rally that saw spot gold almost triple in value to reach a record of $1,920.30 an ounce was built on three pillars, namely strong physical demand from top buyers China and India, robust central bank purchases, and appetite for a safe haven investment amid the fallout from the global recession.
Full Article via Reuters Here
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Gold Prices (LBMA PM)
Gold Prices (LBMA PM)
17 Jan: USD 1,294.00, GBP 1,004.92 & EUR 1,135.87 per ounce
16 Jan: USD 1,290.50, GBP 1,002.46 & EUR 1,130.99 per ounce
15 Jan: USD 1,289.35, GBP 1,002.99 & EUR 1,127.67 per ounce
14 Jan: USD 1,293.70, GBP 1,007.02 & EUR 1,129.27 per ounce
11 Jan: USD 1,298.80, GBP 1,012.91 & EUR 1,123.96 per ounce
10 Jan: USD 1,292.40, GBP 1,012.98 & EUR 1,121.54 per ounce
09 Jan: USD 1,281.30, GBP 1,006.41 & EUR 1,118.32 per ounce
Silver Prices (LBMA)
17 Jan: USD 15.57, GBP 12.08 & EUR 13.66 per ounce
16 Jan: USD 15.54, GBP 12.09 & EUR 13.66 per ounce
15 Jan: USD 15.60, GBP 12.13 & EUR 13.65 per ounce
14 Jan: USD 15.61, GBP 12.13 & EUR 13.61 per ounce
11 Jan: USD 15.68, GBP 12.23 & EUR 13.60 per ounce
10 Jan: USD 15.70, GBP 12.33 & EUR 13.63 per ounce
09 Jan: USD 15.62, GBP 12.27 & EUR 13.64 per ounce
