As the world ponders around in a state of panic and fear following the US credit rating downgrade by Standard & Poor, there is one investment of Gold that is certainly glitterring more than ever - literally! Gold for the first time ever, rose to a record high of Rs.26,000 per 10 gm on Tuesday, August 9, 2011.
Gold purchases leaped to more than 18 million ounces over the past month -- from 8.4 million for the entire year up to July, according to data from the Commodity Futures Trading Commission. Gold is seeing increasingly heavy buying due to the uncertainties following the downgrade. Even after the 2008 crisis, Gold had emerged as one of the best performers among all assets classes
While the worry around the downgrade deepens, despite hitting a record high, experts reckon that Gold will touch new horizons as investors look for a safe haven for their savings
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