Gold prices have been one of the strongest performing investments this decade, rising from US$282 per ounce at the beginning of 2000 to their current level of US$1,648 per ounce. This equates to total annual returns of around 14% compared with around 2% for the S&P 500 and around 7% for 10-year US Treasury bonds.
Gold prices spiked to an all-time high closing price of US$1,895 per ounce on 6th September 2011. Investors were attracted to gold as a relative safe haven amidst dual sovereign crises in the US and Europe. These crises began to emerge in 2010 when gold prices rose 28% from US$1,101 at the beginning of the year to US$1,406 by year-end.
No comments:
Post a Comment