Gold Investments Market Update – China Should Buy All IMF Gold Says “Father of the Euro” Robert Mundell
Gold has rallied 2.5% this morning after falling some 8% last week as the “dash for cash” and the deleveraging of the international financial system gathered pace. In the process, gold gave up most of the gains of the last 5 weeks in just one week. Gold was trading at some $740/oz on September 11th and subsequently surged to over $924/oz as Lehman Brothers collapsed and the global financial crisis deepened.
Gold is wrongly being treated as just another commodity akin to pork bellies or lead.