Gold hit a record high last week of US$953.75 an ounce. It has now consolidated around the US$947-948 mark.
As this report says, the continuing weakness of the US dollar and recession fears in the world’s biggest economy are driving worldwide interest in gold.
We’ve seen increased demand here at New Zealand Mint as people look for a safe investment option.
However, perhaps all the renewed interest in gold is because of those little famous gold statues that will be given out at the Oscars this evening. As this story says, they’re more valuable than ever…
