Gold up 2%, silver up 3% since Monday
Peter Walden, News Editor
8 Oct 2014, 3:50 p.m.
The gold price is up 2% and the silver price 3% since Monday as violence spreads throughout the Middle East and the IMF down grade global growth.
ISIS fighters appear to be on the brink of capturing the Syrian Kurdish town of Kobani located on Turkish border. The capture of Kobani will symbolise a turning point in the crisis, marking the failure to stop the expanding ISIS threat by airstrikes alone. As tensions in Turkey rise, thousands of Turkish Kurd protesters voiced their anger about the lack of intervention taken by the Ankara government.
Thousands of economists and bankers are gathering in Washington for the annual IMF and World Bank meetings. Just yesterday the IMF cut its global growth forecast in 2014 to 3.3 percent whilst also highlighting that there is no prospect of an upturn in the period ahead. With global stock markets falling and volatility returning is it time to add to your precious metal portfolio.