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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

Gold tops $900 on haven demand as equities drop in Europe, Asia

Posted on 26 January 2009

From Bloomberg: Gold prices rose to a three-month high, climbing past $900 an ounce in both New York and London for the first time since October, as global equity markets tumbled, boosting demand for a safe harbor. Silver also jumped.

Europe’s Dow Jones Stoxx 600 Index slumped as much as 2.6 percent to the lowest since April 2003 before rebounding. Tokyo’s Nikkei 225 sank 3.8 percent. This week, the MSCI World Index of shares slid 4.1 percent, while gold rose 6.7 percent….. Full Article: Source


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