Gold Investments Year-End Review - Outlook for 2009
Published by Mark O’Byrne under
Commentary |
Gold |
Silver |
Gold Outperformed Most Assets in 2008 - Gold Up 3.9% in USD; Up 5.3% in EUR and Up 34.4% in GBP.
Today’s London AM fix (23/12/08) was $844.01 (USD), £570.85 (GBP) and €603.72 (EUR). At the start of 2008 (January 2nd 2008), gold’s London AM Fix was at $840.75 (USD), £424.81 (GBP) and €573.34 (EUR). Thus, in 2008 gold is up by 3.9% against the dollar, up 5.3% against the euro and up 34.4% against the pound. The London AM Fix is a widely followed benchmark for physical gold and silver prices and is reported in major newspapers and at many gold-related websites.
|
23-Dec-08
|
|
Last
|
|
1 Month
|
YTD
|
1 Year
|
5 Year
|
|
Gold $
|
|
845.15
|
|
5.77%
|
1.42%
|
4.16%
|
105.83%
|
|
Silver
|
|
10.80
|
|
12.07%
|
-26.85%
|
-24.60%
|
89.21%
|
|
Oil
|
|
39.82
|
|
-20.93%
|
-59.84%
|
-57.45%
|
24.63%
|
|
FTSE
|
|
4,283
|
|
13.27%
|
-33.66%
|
-33.43%
|
-3.55%
|
|
Nikkei
|
|
8,724
|
|
10.27%
|
-42.85%
|
-42.82%
|
-15.89%
|
|
S&P 500
|
|
872
|
|
8.95%
|
-40.64%
|
-41.28%
|
-20.25%
|
|
ISEQ
|
|
2,384
|
|
2.72%
|
-65.62%
|
-65.57%
|
-51.03%
|
|
EUR/USD
|
|
1.3990
|
|
11.15%
|
-4.08%
|
-2.71%
|
12.85%
|
|
© 2008 Goldassets.co.uk
|
|
|
|
|
This has led to a sharp outperformance of gold vis-à-vis every major equity indices and commodity in the word, not to mention most property markets (see Chart and Performance table). In March, gold fell from a record nominal high of just over $1,000/oz but it is important to remember that gold is only down some 15% from that record nominal high and this is after surging nearly 60% in the previous 7 months. In the seven months from the start of the credit crunch and the collapse of Bear Stearns, gold had surged by nearly 60% - from $640 in August 2007 to over $1,000 in March 2008.
Continue Reading >
