Why Gold Was the Best Buy in 2008-9 Crash and Will Be Again This Time Too

DAILY PRICES
Today’s Gold Prices: USD 1128.50, GBP 728.91 and EUR 999.38 per ounce
Yesterday’s Gold Prices:  USD 1134.40, GBP 724.63 and EUR 990.05 per ounce.

(LBMA AM)

Gold in US Dollars – 5 Years
Yesterday, gold fell $15.40 to $1124.10 in New York – down 1.3%.  Silver fell another 3% or 46 cents to $14.18 per ounce.

Why gold was the best buy in 2008-9 and will be this time too…

What was the best asset class to buy for the recovery that followed the 2008-9 crash in global financial markets? Step forward gold whose rise was only exceeded by silver.

Precious metals not only delivered the fastest recovery from that huge sell-off but offered increases way above the pre-crash levels. Gold tripled from its low in the crash, while silver went on to record an eight-fold increase, still just shy of its 1980 all-time high.

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IMPORTANT NEWS

Gold coasts along as stocks perk up, possible Fed hike delay supports – Reuters
Relief Rally Takes Hold in Asia After U.S. Rebound; Metals Gain – Bloomberg
Fed’s Dudley: September rate hike looks less compelling – CNBC
Gold Gets Ignored Amid Market Turmoil as Focus Stays on Fed – Bloomberg
Lost Nazi train full of gold ‘discovered’ beneath Polish city – Independent.ie

IMPORTANT COMMENTARY

Mark OByrne

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