Wednesday, October 8, 2008

Stable Gold Encourages Selling

The Financial Times of London ran an article last week giving further signs of the stability of gold.

Apparently, International investors in gold have been requesting “unprecedented physical levels” of both gold coins and gold bullion bars as the instability of the economic situation looms over the world.

LBMA claims that the move has been initiated by the rich, and continues as the economic turbulence experience in the United States flows across international boundaries to Europe. According to the LBMA, gold cannot be produced quickly enough due to the fact that it is considered to be low risk and a hedge against inflation. The Austrian Mint, the United States Mint and Rand Refinery are all currently running at full capacity, and have announced shortages of coins on specific occasions.

Gold remains desirable due to the fact that it is a physical asset. Recently, gold has soared, however there are investment analysts that suggest that the demand could also result in a price cap.

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