Gold steams ahead as bailouts go global

Gold Investing News reports gold is looking brighter despite the global economic crisis and bail-out.

On the stock markets, gold climbed overnight and ended $12 higher. Gold was as much as 2 per cent higher on Thursday after the European Central Bank left interest rates on hold and the Bank of England cut its key rate, buoyed by buying of the metal as a haven from risk. “We are seeing more investor interest in gold,” said Citi analyst David Thurtell. “Some like it as a safe haven in times of high economic uncertainty, and others like it as a hedge against inflation.” V M Group analyst Matthew Turner said, “Today’s moves were just a confirmation of that theme.”

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