Gold Best start to a year in 43 years
Duncan Richardson, News Editor
1 Apr 2016, 10:23 a.m.
Set against an environment of falling commodity prices and increased financial volatility the gold price surged 16.1% in quarter one to record the yellow metal’s best start to a year since 1974.
Increased geopolitical tension, stock market sell offs and increased concerns over the health of the global economy has boosted gold appeal as the ultimate safe haven. It appears the barbarous relic has value after all.
In a low or even negative interest rate environment money managers may turn to gold to manage their portfolio and preserve their client’s wealth over the long run. This can only help support the gold price in the future.
The gold price has rallied 1% this week, buoyed by the increased speculation that the Federal Reserve will pause before tightening monetary policy further. Gold is currently trading at £859.50 per ounce, silver £10.73 per ounce and platinum £683.35 per ounce.