Gold Hedges Against Surge In Cost Of Bread, Eggs, Beer and Fuel
Monday, 10 March 2014
Prices posted a fifth weekly gain last week, climbing to a four-month high of $1,354.87 on March 3, as tension between Ukraine and Russia escalated. This has led to an increase in safe haven demand which has contributed to gold’s 10% gains so far in 2014.
Platinum lost $3.20, or 0.2%, to $1,483.60 an ounce, ending around 2.5% higher for the week, while palladium rose 65 cents, or 0.1%, to $781.80 an ounce, up roughly 5% for the week.
Russia is among the world’s biggest producers of platinum and palladium. Its conflict with Ukraine and tensions with the U.S. is leading to worries about supplies of the precious metals.
Gold Hedges Against Massive Inflation In Bread, Beer, Eggs, Fuel and Property
A new study has shown how the British pound has lost value massively in the last 40 years and how gold has again acted as hedge against inflation.