Gold Thriving
Chart of the Week 26 Aug, 2010
The market has moved firmly towards the risk averse end of the spectrum in recent weeks, spooked by the anaemic economic growth performance in the U.S., ongoing concerns over sovereign debt issues in the major developed economic regions and on the back of a slowing in the growth rates in China as tightens money supply in an effort to cool the property markets in its major cities. The resultant fear and pessimism has played into the hands of gold bulls, with prices heading back up towards the record U.S. dollar levels established in late June – as illustrated below in the charts of short and long term pricing:
Source: LME, RBA, SR
Source: LME, SR
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