Rich investors are hoarding their gold, sometimes keeping it in their own vaults, the Financial Times quotes analysts as saying, as “safe haven” buying of gold and in particular gold coins continues to push up the price. It’s currently trading at $892 an ounce and precious metals experts at UBS and Goldman Sachs say the hoarding will drive the price up to $1,000. According to the FT, the US Mint in January 2009 sold four times as many US American Eagle gold coins as a year earlier. US Mint figures for gold coin sales, 2008
Posted by Ellen Wallace on 10 February 2009 at 11:07 |
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This work by genevalunch.com is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.
News story, GenevaLunch, 10 February 2009.
Filed under: World news
Tags: American Eagle gold coins, gold sales, hoarding, price of gold, US Mint, vaults
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