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Gold hit 2008 high
17-02-2016 13:11
Gold hit 2008 high
Gold hit 2008 high

The atmosphere in the stock exchanges is coming to the boil, while gold prices are demonstrating the highest growth in seven years. Last week, April gold futures advanced by 7.1% posting the highest weekly gain since early December 2008. Back then within the week ended on December 12 the precious metal appreciated by 9.1%. The same as it was in the heart of the 2008 financial crisis, today stock indices are steeply falling in some developed countries – losing up to 20% from local highs. And due to panic sentiments in equity markets, gold is being of stable interest as a safe haven asset. However, experts believe gold appeal may weaken since there are expectations that the markets would stabilize during coming months. Asia Chief Strategist at Julius Baer, Mark Matthews, said a risk assets rally can start anytime to affect the precious metal adversely. At the same time, investors hardly believe the stock markets can stabilize to show a long-standing growth rate. The majority of them assume that in the nearest months the markets are likely to continue falling, and then the road to new records would be open for gold.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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