31
December
Gold and precious metals to rise in 2011
31 December 2010 The Irish Times
After two decades of being net sellers of gold, central banks have resumed the policy of storing some of their wealth in the precious metal as a hedge. Gold has risen more than 20 per cent this year and in recent weeks has traded at all-time nominal highs of more than $1,400 an ounce.
However, when the price is adjusted for inflation it is still quite a way off the peak reached in 1980.
“Many savers concerned about their savings and the risks posed by the depreciation of the euro are diversifying into gold and silver,” says Mark O’Byrne, director of Dublin-based wealth manager and bullion broker Goldcore.
http://www.irishtimes.com/newspaper/finance/2010/1231/1224286546048.html
