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Tuesday, September 14, 2010

Gold price hits new record high


Gold twelve month chartThe price of gold hit a record high on Tuesday, with analysts giving a number of reasons for its rise.
Both the price of the actual metal and the price for buying it at a future date rose more than 2% to $1,274.75 an ounce.
It was the biggest one-day gain for the commodity in four months.
One of the factors spurring investors is gold's traditional role as a so-called "safe-haven" investment at times of economic uncertainty.
On the physical market, demand for both bullion and jewellery has risen ahead of the seasonal Indian wedding period and the Hindu religious festivals that begin in September