Why Gold Was the Best Buy in 2008-9 Crash and Will Be Again This Time Too
Commodities / Gold and Silver 2015 Aug 27, 2015 - 02:34 PM GMTBy: GoldCore
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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Mark O'Byrne
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UK |
IRL +353 (0)1 632 5010 |
WINNERS MoneyMate and Investor Magazine Financial Analysts 2006
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