Bullion/Gold on bull run marches towards 500 US dollars

摘要

It continues to be a safe haven for investors worried about 'rainy days' in the future. Gold touched 476.30 US dollars per troy oz at September end on the New York Metals Exchange, the highest level in 18 years since the 1987 stock market crash. The precious yellow metal is on a 4 (1/2) year bull run during which it has gained 90 per cent plus and considering the prevailing uncertainties about the crude oil prices it should not be surprising if the gold scales 500 US dollars level sooner than later. The bull run in gold had started from March 2001 when it touched a bottom of 250 US dollars/ oz. At end September 2005, it scaled 476.30 US dollars, which indicates a gain of 4.20 US dollars during the last week and as much as 33.30 US dollars over the past month. The rising crude oil prices and also the Fed hiking the interest rate were largely responsible for the further spurt in gold prices