Gold Price Record High
Published / Last Updated on 07/02/2008
Gold Price Record HighGold hit a new price record in January with the gold price reached a new dollar record of $865.35.
This breaks the previous gold price record of $850 set on 21 January 1980. This follows a six-year rise in the gold price and was built on a combination of strong investment and jewellery demand following falls in other major asset classes of property and shares.
Our view
What the figures do not tell you is that Gold also had huge falls in 2007 as market sentiment swung like a yo-yo between gold, property and shares. Gold is just as volatile as any other investment. Does not it tell you something that the Gold price 30 years ago is similar to that of today.
Remember the gold rule. Buy low, sell high. You should not invest now at a record gold price record. You are too late.
Useful links:
Learn more about gold investment and related topics in the Savings Adviser Channel
Request expert financial advice now
Purchase guidance on financial planning in the Money Shop
