Gold reach record levels

Published: 17 May, 2010 22:23

Investors stick to gold as an alternative to the euro. Gold denominated in euro rose to record levels, 994 EUR/ounce, after USD gained over 1 % against the Euro.

Equities drops while funds buy gold

Soc General estimate major exchange traded funds added 46 tons of gold last week. Funds turn into gold as it’s holding the its value and going higher, while equities are declining. According to Jim O’Neill at Goldman Sachs, it’s ridicolous to suggest the euro will increase in 2010. But it has soon reached the bottom.

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