Additional Information
Market: LME
Sector: General Mining - Gold
1 year chart
Deal GOLD Tax Free*
*subject to change and depends on individual circumstances.
1 day chart

Add to watchlist:

Only registered members can add into watchlist !

Register here !
Deal GOLD Tax Free* Losses can exceed
your initial deposit
*subject to change and depends on individual circumstances.

Gold is a highly sought-after precious metal which, for many centuries, has been used as money, a store of value and in jewelry. The metal occurs as nuggets or grains in rocks, underground "veins" and in alluvial deposits. Modern industrial uses include dentistry and electronics, where gold has traditionally found use because of its...

Read more

Gold tops $1,470 on inflation fears, ECB rate speculation

April 08 2011, 3:35pm Gold tops $1,470 on inflation fears, ECB rate speculation

Spot gold posted a fresh all time high today, topping US$1,472/oz as investors were buying the yellow metal for wealth protection after Portugal became the third euro zone state to ask the European Union for financial aid to help it tackle its debt problems.

Later in the day, the European Central Bank (ECB) decided to raise its interest rates by 25 basis points to 1.25 percent. However, ECB President Jean Claude Trichet said that the rate hike may not be the first in a series, giving more support to gold.

Low interest rates are positive for gold, which can offer investors better returns.

In addition to that, gold is seen as an inflation hedge, which makes it an attractive asset amid soaring oil prices.

Gold last traded at US$1,469/oz.

Silver and platinum advanced to US$40.15/oz and US$1,802/oz respectively.

Mining stocks were in demand today. Fresnillo (LON:FRES) climbed 3.1 percent, while Randgold Resources (LON:RRS) and Lonmin (LON:LMI) added 1.5 percent.

In the FTSE 250, African Barrick Gold (LON:ABG) and Hochschild Mining (LON:HOC) added over 3 percent.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.