Bad economic conditions, good times for gold

Gold Investing News reports gold prices have increased over 250% over the two year span despite the gloomy market conditions in the resource sector.

Worldwide, gold has made an outstanding 250 per cent jump in the last two years. Starting in 2006 with a low of $400 per ounce, gold jumped dramatically to $1,000 per ounce in 2008. On Friday, gold price jumped over $15 to reach above $920 an ounce in early London trade, dipping at the New York Open before hitting a new 3-month high of $929.40 in afternoon trade. Gold bullion ended the day near that high with an impressive gain of 2.4 per cent, up almost 3.5 per cent for the week.

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