18.08.2016 - Gold demand surges amid fears for world economy
Demand for gold jumped in the wake of the Bank of England's decision to cut interest rates earlier this month, the Royal Mint has revealed. Sales of gold bars and coins jumped by half, while transactions of the precious metal leapt by a quarter as rates were chopped to 0.25 per cent. Gold prices have soared by around 25 per cent this year - or 45 per cent in sterling terms, thanks to the weakened pound - from $1,060 to $1,330, amid investor fear of stock market turmoil. The bullion is seen as one of the safest places for cash in times of economic fear and turmoil, and comes amid numerous signs the global economy is slowing down...............................................Full Article: Source
Print